Strategic oil reserve for Japan in Hambantota

A Sri Lankan consultant had proposed a massive strategic oil reserve project for Japan in the Hambantota District as far back as 1993. The proposition was advanced in the aftermath of the first Gulf war during the Bush Sr. administration.

The proposal had been sent to the Ministry of Foreign Affairs Japan by Srinath Fernando acting alone as a Strategic Consultant. Fernando says that his proposal still carries a lot of weight in view of the ever-growing strategic importance of the Persian Gulf.  Iran has already declared that in the event of a war breaking out it would resort to closing down the Hormuz Strait. Japan heavily relies on oil imports from the Persian Gulf. The size of the oil reserve is meant to serve Japanese industries for six months and in physical terms this would have been a mammoth strategic project had it been recognised at that time. Fernando had even envisioned creating a separate Coast Guard and upgrading Sri Lankan marine facilities in his proposal.