Sri Lanka’s underappreciated geologic asset: developing its natural gas resource

Early announcement for an in-person presentation by Thom Davis at the Coast Geological Society monthly meeting in Ventura, California. Talk is scheduled for the evening of December 17, 2024. Additional information on how to register will be provided soon on this page and sent out to Geo-hikes members. You don't have to be a Coast Geological member to attend, or be a geologist.

Presentation Preview:
Sri Lanka’s underappreciated geologic asset: developing its natural gas resources will overcome its economic crisis, provide energy security, and lower CO2 emissions
Thomas L. Davis and Amila Sandaruwan Ratnayake

For now, Sri Lanka’s severe economic crisis seems to be in remission. Many challenges still confront the government and population, from a substantial national debt to affording imported energy. Sri Lanka is not alone, many nations, economically developed and developing, now face unsustainable debt levels and energy insecurity (uncertainty in availability and affordability). Historically, debts are inflated away, renegotiated, or defaulted on. Nations with no in-country energy production and inflation risk are at energy-insecurity double-jeopardy. It is better to pay off a national debt by developing an in-country resource, natural or human. Sri Lanka has such a resource, although unknown to many: offshore are discovered yet undeveloped natural gas fields and potential for additional discoveries. Development of Sri Lanka’s discovered gas fields, returning exploration, and changing the energy sector from oil- and coal-based to natural gas is economically viable and desirable, assuming sustainable and responsible development. Key benefits include alleviating its debt, providing a secure, inexpensive, and reliable energy source for decades, and reducing its CO2 emissions to meet its international obligations in manner that does not economically deprive its population.

LInks to our 2024 published articles on Sri Lanka:

Aug. 12, 2024, Oil and Gas Journal, https://www.ogj.com/exploration-development/article/55131910/sr

July 27, 2024, The Diplomat, https://thediplomat.com/2024/07/sri-lankas-underappreciated-asset-offshore-lng/

July 22, 2024, GEOExPro, https://geoexpro.com/returning-exploration-to-sri-lanka/