Today, after decades of diplomatic disputes, political suspicion and bureaucratic paralysis, the Trincomalee Oil Tank Farm is finally moving towards large-scale development. Trincomalee has been identified as a nodal point of cooperation between India and Sri Lanka in the field of energy security. Later, during the 2002–2004 period, India and Sri Lanka signed agreements allowing IOC involvement in fuel sales and distribution in Sri Lanka. Sri Lanka continued importing petroleum products despite possessing one of South Asia's largest fuel storage complexes. However, Sri Lanka must ensure that national ownership, transparency and environmental safeguards are protected.