Canadian leader to meet CARICOM heads in The Bahamas

Feb 12 2023

Canadian Prime Minister Justin Trudeau, will be in the Bahamas as a special guest at the Inter-sessional Meeting of the Conference of Heads of Government of the Caribbean Community which convenes the leaders of 15 member states, Trudeau will

“drive progress on shared priorities, including continued support for the Haitian people.

“The visit will provide an opportunity for the leaders to consider further regional political security, and humanitarian assistance in support of the Haitian people and Haitian-led solutions to the ongoing situation in Haiti, which is having a devastating impact on the Haitian people. As a steadfast partner, Canada has taken action in response to the egregious situation, including by providing support to the Haitian National Police, deploying a long-range patrol aircraft to disrupt the activities of gangs, coordinating the delivery of vital security equipment purchased by the Haitian government, providing humanitarian support, and implementing robust sanctions on those responsible. We will continue to stand with the Haitian people as they strive for a brighter future.”

As CARICOM celebrates its 50th anniversary, Trudeau said he will participate in group discussions and bilateral meetings with leaders. He will work to strengthen Canada’s partnership with the Caribbean region, including by advancing democracy, human rights, “economic growth that benefits everyone”, and developing clean energy.

He will also work with leaders to increase trade and investment between Canada and the Caribbean to create jobs and growth, and advocate for climate action and resilience for the region, “which is particularly vulnerable to climate change and natural disasters”.

As a steadfast partner, Canada continues to work with CARICOM to build “a more secure, stable and prosperous world”. Canada and the Caribbean Community share strong ties between our peoples, common values, and a strong commitment to fighting climate change. I look forward to meeting leaders of CARICOM to discuss how we can continue to work together to support the people of Haiti, strengthen the Caribbean region, and build a better future for people and businesses in Canada, the Caribbean, and around the world.”

Canada has long-standing ties with many CARICOM countries on a wide range of issues, including trade, security and defense, and governance.Trudeau spoke with his Bahamian counterpart Philip Davis .

“The prime ministers discussed their commitment to strengthen the partnership between Canada and CARICOM members. They (also) reiterated the need for close collaboration on supporting a Haitian-led solution to the instability in Haiti. Prime Minister Trudeau thanked Prime Minister Davis for inviting him to participate as a special guest in the 44th Meeting of the Conference of Heads of Government of CARICOM and conveyed that he looked forward to meeting Caribbean leaders in Nassau . The two leaders committed to continuing discussions at the CARICOM meeting next week”.

CARICOM comprises 15 full members and five associate members. The full members are Antigua and Barbuda, The Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St. Lucia, St. Kitt Nevis, St. Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

The British Overseas Territories of Anguilla, Bermuda, the British Virgin Islands, the Cayman Islands, and Turks & Caicos Islands are associate members.

The Conference of Heads of Government of the Caribbean Community meets twice a year at Regular and Inter-Sessional meetings, in summer and winter, respectively.

44th Caricom Summit in the Balmy Bahamas

Feb 16 2023

TT Prime Minister Dr Keith Rowley, Energy Minister Stuart Young and Foreign Affairs Minister Dr Amery Browne met former US Senator Chris Dodd, Special Presidential Advisor for the Americas in Nassau. Young also met Deputy Assistant Secretary for Energy Transformation, US Department of State, Anna Shpitsberg..

During the first plenary session of the two-day summit, HoGs discussed the Caricom agri-food systems agenda and steps taken to prioritise regional food security. They received reports on COVID-19 and other emerging health issues and on progress of the implementation of the Caricom Single Market and Economy (CSME).

Haiti was high on the agenda when heads met in caucus in the afternoon. Leaders were also scheduled to discuss community governance and border issues. Among guests at the Caricom summit,

Prime Minister Justin Trudeau told HoGs that Canada “is working to expand and simplify access for trusted travellers from Caricom countries and other countries in the region.”

Trudeau also announced initiatives to support the region including:

•  $44.8 million in new funding to tackle the climate crisis
•  $1.8 million to target illicit drug trafficking and strengthen border and maritime security.

Trudeau advised that Caricom, Canada and international partners can help Haitians end the ongoing crisis and build a better and more hopeful future.  He pledged $10 million to support the International Office on Migration to strengthen protection and resilience of Haitian women and children along the Haiti-Dominican Republic border and an additional $12.3 million in humanitarian assistance for Haiti.

The summit ends after discussions on energy, regional security, climate change and other agenda issues.

 

Canada deploys navy to Haiti

(Sean Kilpatrick /The Canadian Press via AP)  Feb 17 2023

Prime Minister Justin Trudeau joined a bilateral meeting with Prime Minister of Haiti Ariel Henry during the Conference of Heads of Government of the Caribbean Community (CARICOM) in Nassau, Bahamas.

SAN JUAN, Puerto Rico (AP) — Prime Minister Justin Trudeau announced Canada will send navy vessels to crime-ridden Haiti for intelligence-gathering to quell worsening gang violence.

At an annual Caribbean summit, a key topic was a surge in killings, rapes and kidnappings blamed on Haitian gangs emboldened since the July 2021 assassination of President Jovenel Moïse. Haitian Prime Minister Ariel Henry, at the Bahamas summit, pleaded for a full-fledged international military intervention to stem the mayhem. requested help from the U.N. Security Council in October, and suggested the U.S. and Canada lead a force. Wisely, no such intervention has come together, and neither country has offered to take the lead.

Canada’s initiative, announced at the summit of the 15-member Caricom trade bloc, follows the return of one of its surveillance planes on a similar mission to collect intelligence for Haitian police.

Trudeau said, “Right now, Haiti is confronted with unrelenting gang violence, political turmoil and corruption. Now is the moment to come together to confront the severity of this situation.”

Trudeau said Canada and neighbours need to work on long-lasting solutions to restore order and security, allow essential aid to flow and create conditions for free and fair elections. He unveiled sanctions on two additional Haitians: former interim president Jocelerme Privert and ex-political aide Salim Succar. They join 15 others banned from making any economic dealings in Canada amid alleged ties to gangs.

The U.S. State Department announced visa restrictions on five more Haitians and seven family members that it did not identify, for fomenting violence, corruption, and instability. 44 people faced U.S. restrictions since October.

Trudeau said Canada would give an additional $12.3 million in humanitarian assistance and $10 million to support the International Office on Migration, to protect Haitian women and children along Haiti’s border with the Dominican Republic which deported tens of thousands of Haitian migrants and those of Haitian ancestry in the past year.

“The toll of human suffering in Haiti weighs heavily on me.”

Henry urgently wants Haiti to hold elections despite the worsening insecurity. Reported killings in Haiti last year increased by 35% to 2,183 victims, while reported kidnappings more than doubled to 1,359 victims, according to the U.N.

The U.N. Integrated Office in Haiti noted that “gang-related violence reached levels not seen in decades,” and that tens of thousands of people have been displaced by the warring gangs.

Canada, the U.S. and other countries provided military equipment and other resources, along with training, to Haiti’s National Police, which only has 9,700 active-duty officers for over 11 million people. Gangs control an estimated 60% of the capital of Port-au-Prince.

Trudeau also pledged $1.8 million to fight illegal drug trafficking and strengthen border and maritime security across the Caribbean.  Canada will set aside $44.8 million to help fight climate change. The summit drew other officials including Brian Nichols, the U.S. assistant secretary of state for Western Hemisphere affairs,

 

 

John Kerry hears HoGs

Feb 15 2023

US Special Presidential Envoy for Climate John Kerry will be among foreign guests at the Caricom summit under the chairmanship of Bahamas Prime Minister Philip Davis, the first of the new format for Caricom gatherings which changes from the previous pattern of having an intersessional meeting in February.

At the last summit it was announced there would now be two regular in-person meetings of Caricom leaders at different locations and four intersessionals held virtually. The Bahamas meeting will focus on issues including the Caricom Single Market and Economy, climate change, agriculture and food security and health. Foreign guests include Canadian Prime Minister Justin Trudeau.   Kerry will seek to advance international co-operation, particularly among nations that are vulnerable to the climate crisis.

Among the other regional leaders at the Guyana Energy Expo who will go on to the Caricom Summit is St Vincent Prime Minister Ralph Gonsalves who was on a state visit to Venezuela last week.

He said that Venezuelan President Nicolas Maduro was interested in issues addressed at the summit. He also said it was important for him to say “to everybody”—and he hoped US leaders were hearing—that Venezuela is very interested in good relations with the US and “conversations that would strengthen rather than weaken the hemisphere.”

United States Special Presidential Climate envoy, John Kerry is leading a 30-member delegation that includes former US Senator Chris Dodd and Assistant Secretary of State for Western Hemisphere Affairs, Brian Nichols, to the 44th CARICOM summit that will be attended by Canadian Prime Minister Justin Trudeau.

Kerry intends to listen to CARICOM countries regarding their concerns about the impact of climate change. Kerry told a function hosted by the US embassy in The Bahamas.

“You can’t say this is an existential issue in one breath and then walk around and slow walk our approach to the technologies, to the challenges we face particularly in island states.

The island states of the world and the sub-Saharan African states. I mean 48 sub–Saharan African countries equal 0.555 per cent of all the emissions in the world.

I just want to say to all of you, it takes everybody. Every country has got to be a part of this journey and you know The Bahamas and other countries in the region don’t contribute a lot to it, but we all have a vested interest in making certain that we’re on a track to do what our citizens want us to do and citizens around the world want us to do, which is to respond to this crisis.”

Kerry said the reason for his visit is to listen to the concerns of the regional leaders and hear the challenges faced by Caribbean countries regarding the impact of climate change.

“So, we’ll talk…and I came here along with Chris and Brian and the rest of our delegation, we came here to listen.

“We want to listen to you.

• • • How do you deal with the resilience issue?
    • What are the choices in terms of adaptation?
    • What are options in terms of our ability to deal with food production and quick response to increasingly intense storms which take their wrath on the islands again and again and again?
    • Most recently, with Dorian?

“So, my friends, we’re all in this together. Different layers of contribution, different levels of responsibility, but every one of us has to take measure of our responsibility to live up to the hopes and aspirations of our kids and grandkids.”

Prime Minister Davis was looking forward to the continued close collaboration between the United States and CARICOM, specifically in the areas of climate resilience, economic diversification and clean energy transition.

Trinidad also suffers pollution from industry and volcanoes produce toxic GHG. Forests in the lush region can sequester carbon, promote health and create wealth from timber and food. Haiti was offered relocation to the AU which needs diaspora to develop the continental homeland, abounding in resources,, in 1.2 billion acres, free from natural hazards. UWI/ ICTA has world class agriculture knowledge in Trinidad. . As geopolitical conflict grows, USA can acquire all Caricom members as Unincorporated Territories to end reliance on alms and boost security.

 

 

 

Natural Resources Minister – Guyana can learn from T&T

Feb 16 2023

Minister of Natural Resources Vickram Bharrat addressed the International Energy Conference and Expo in Georgetown. Although Guyana is scheduled to start construction of its own refinery this year, Bharrat says they are not “completely closing the door” on a possible  collaboration with T&T about refining crude oil in this country.

“We would have issued a Request for Proposal for a design, finance build model for a 30,000 barrel refinery in Guyana that would have been closed in December, we have nine submissions to date so we are in the process of now evaluating those nine proposals to move to a final selection for one company,” Bharrat said.

The proposed site for the refinery is 30 acres of land located at the mouth of the Berbice River in the vicinity of an Crab Island.

Construction is expected to start before June and completed within two years. The company that wins the contract will get a ten-year tax holiday. Commendably, government will have no ownership or investment interest in the project which will be financed and owned 100 per cent by the private sector.

“But .. I am not saying that the door is closed to talks with Trinidad in the future so I don’t want to completely close the door and say that we are not interested at all in collaborating with Trinidad in any way or the other with regards to refining our crude there.”

This is all part of Guyana’s plan in becoming self-sufficient in terms of energy.

“We need to ensure we have some form of energy security locally and that is why we are moving ahead with the request for proposals for the refinery and we have those nine submissions that we are evaluating.”

Last year T&T and Guyana signed a Memorandum of Understanding to cooperate in several areas including energy. A working group will be established. The relationship between the countries is strong.

“What we will do and what is a requirement of the MOU is set up a working group which we had before so we are working toward re-establishing the working group as part of the MOU.”.

“I must say with Prime Minister Rowley’s presence at the energy conference here and with Minister Young present here it sends a clear message that Guyana and T&T are working together and there is a lot quite honestly that we can learn from T&T because Trinidad has been in this sector for decades now, we are new in it, we are now producing so there is a lot that we can learn from each other as well too.”

“And our heads of government have a good working relationship which we are building on so I would say there are a number of areas that we can collaborate and cooperate on and we have seen a strengthening of our relationship, especially in the energy sector of recent.”

At the conference Guyana’s Finance Minister Dr Ashni Singh said while the energy sector helped the country’s economy triple in size in the last three years, they are ensuring that non-energy sectors are developed.

“The world is not short of examples of jurisdictions that have fallen into the well-known circumstances of over-dependence on a particular economic sector and so we place the highest level of importance on ensuring that we achieve strong non-oil economic growth and that we do the things necessary today to continue to have strong non-oil economic growth going forward.”

Guyana is making moves to ensure it will never return to its previous economic position.

Guyana not interested in Guaracara refinery

Feb 15 2023

Guaracara Refining Company Limited subsidiary of Trinidad Petroleum Holdings Limited owns the former Petrotrin refinery.

Addressing overtures by T&T Prime Minister Dr Keith Rowley for regional countries to consider buying the refinery as an option, Natural Resources Minister Vickram Bharrat said the mothballed asset does not fit into Guyana’s plans for its energy future as Guyana will construct its own refinery, to become self-sufficient in energy.

Following a panel discussion at the international energy conference, Bharrat said “We’re looking to build our own refinery in country. We are trying to ensure that we are self-sufficient in terms of energy, so that’s why we are moving towards setting up the refinery in country.”.

Government issued a Request for Proposals for a privately-owned 30,000-barrel-per-day oil refinery in East Berbice-Corentyne and a decision will soon be made on the nine proposals received so far. Guyana currently requires 15,000 barrels of oil per day and with the growing energy demand, it is believed that the refinery will be sufficient.

Although Guyana is not considering the defunct Petrotrin refinery that will have no impact on the relationship between the two countries.

“Trinidad has the experience and the expertise as well too and quite honestly, we haven’t been focusing too much on gas. We have spent a lot of our time on oil, rightly so, because of the price of oil (but) because of the way the world is going, the demand for oil might not be long lasting but gas is seen as a transitional fuel.”.

On the opening day of the four-day conference, Rowley promoted the Trinidad refinery as a viable option for anyone interested in buying a refinery. Heavy dependence on imported energy has negatively affected the economic performance of Caribbean states and createdinstability in fiscal and external accounts, including T&T, which imported most of its crude oil to create refined products for domestic needs and for the regional market.

This import and refined model received significant loan support from the national treasury. By 2018, in the absence of an improved crude oil supply, the accumulated debt and projections for sustained losses resulted in a restructuring of the SOC including closure of the refinery, which, in the absence of a new source of crude, is mothballed in Trinidad.

“The refinery and its supporting infrastructure are available for restart, upgrade and use on reasonable terms to any interested refiner or crude supplier.

Later in his address, on the proposed Dragon Gas Field deal, he again reminded delegates of the availability of the refinery for sale.

“We are still exploring the market for a user for the refinery as mentioned.”

Energy Minister Stuart Young claimed that proposals for the refinery keep coming in.

“The Prime Minister has again drawn reference to the fact that in T&T, there is an oil refinery that remains available. We are constantly, through TPHL (Trinidad Petroleum Holdings Ltd), looking at proposals because we continue to receive proposals, but if Guyana is interested that is something we have told them we would welcome.”

Bharatt addressed Guyana’s local content law, which caused contention between businessmen from Guyana and T&T last year. He said Guyana is open for business.

“Local content legislation is in no way a hindrance to investment coming into Guyana. It was never designed to be a hindrance to development or investment coming into our country, because we do need investors, we need partners to develop our resources in this county. We cannot do it alone. As a government, we have an open-door policy to investment we have an open-door policy to any investor coming into our country.”

 

 

Gas gang in Guyana

Feb 14 2023

“Trinidad and Tobago has taken a deliberate policy to engage our regional neighbours in the development of economic co-operation in the energy sector…”

That was the key message from Prime Minister Dr Keith Rowley, as he revealed to regional leaders and international participants at Guyana’s International Energy Conference & Expo, how his country will be capitalising on the Dragon Field opportunity.

“To this end, we have executed unitization agreements with the Government of the Bolivarian Republic of Venezuela, the Government of Barbados and the Government of Grenada, which will allow for the exploration of hydrocarbon resources in the maritime boundaries shared with our neighbours,” Dr Rowley told the conference.

He also gave assurances that T&T will continue its advocacy on the green energy agenda, as part of an overall plan to secure regional energy interests.

“We will continue to make the case to the major global polluters to encourage investment in green initiatives identified within the region,” he said.

The following is the full text of speech made by Prime Minister Rowley, at the Conference’s opening ceremony.

 

 

 

 

GOVERNMENT OF THE REPUBLIC OF TRINIDAD AND TOBAGO

OFFICE OF THE PRIME MINISTER

Address by

 Dr the Honourable Keith Rowley

Prime Minister of the Republic of Trinidad and Tobago

International Energy Conference and Expo – The Co-operative Republic of Guyana

Harnessing Energy for Development

February 14, 2023

It is my pleasure to participate in today’s conference for which the theme is Harnessing Energy for Development. Various forms of energy fuel the global economy. It is a necessity for our everyday lives and has a great impact on our standards of living and economic growth. The availability of energy has not only improved our living standards but has also increased the quantity of energy we produce and consume.

According to BP’s 2022 Statistical Energy Review global energy consumption over the last century has increased annually except in 2009 during the financial crisis and in 2020 with the onset of the pandemic.

Energy generated principally by fossil fuels, coal, gas and oil fueled the industrial revolutions and has resulted in transformational changes in the living standards of many nations. Industrialization, which is at the heart of structural changes has been instrumental in the economic development of the world and has led to unprecedented income growth of many populations.

There is empirical evidence that growth in global GDP bears a direct correlation to growth in energy consumption. As the GDP of a country increases, the amount of energy that is consumed is also expected to increase. The industrial sector is the engine of growth and with the right policies can transform and power the economy. The growth in living standards has not been universally uniform. The higher living standards in developed countries as compared to developing countries are as a result of higher energy consumption in the developed countries.

Energy consumption of Latin America, which includes the Caribbean, as illustrated in the BP 2022 Statistical Energy Review, amounted to 5.9 % of total global energy consumption, with the Caribbean’s contribution being only 0.4 % of total global energy consumption.

The World Bank in its October 2022 Regional Economic Update reported that as the COVID-19 crisis recedes, Latin America and the Caribbean economies had rebounded with GDP growth in 2021 of 6.8 per cent. It observed that in most countries of the region, gross domestic product and employment had fully recovered to their 2019 levels, and rising debt burdens were manageable. The growth in GDP was reflected in energy consumption which increased by 7 per cent in 2021 for the Latin America and the Caribbean Region and 14.7 per cent for the Caribbean countries as a group.

Gross domestic product (GDP) in Latin America and the Caribbean is estimated to have grown by 3.6 percent in 2022. Robust expansion in the first half of the year was driven mostly by consumption. However, activity weakened late last year as slowing global growth and tighter financial conditions started to take effect. Subdued industrial production contributed to the economic deceleration, as rising domestic and global interest rates tightened financial conditions.

Global growth is expected to decelerate sharply to 1.3 percent in 2023 but is projected to recover to about 2.4 percent in 2024. The 2023 slowdown reflects efforts by monetary authorities to curb inflation and spillovers from a weak global outlook. Regional investment is expected to decline this year, dampened by higher financing costs, soft business confidence and elevated policy uncertainty. The World Bank further advised that negative shocks, such as higher inflation, even tighter policy, deeper weakness in major economies and rising geopolitical tensions could push the global economy into recession.

In the near term, urgent global efforts are needed to mitigate the risks of global recession and debt distress in developing countries. Policies are also needed to support a major increase in investment in emerging markets and developing economies to reverse the slowdown in long-term growth exacerbated by the overlapping shocks of the pandemic, the war in Europe, and the rapid tightening of global monetary policy.

Growth in the Caribbean countries amounted to 9.7% in 2021 reflecting a resurgence in the services sector including tourism where it is estimated at 7.7% in 2022. Aside from Guyana and Trinidad and Tobago which have petroleum resource economies, the rest of the English-Speaking Caribbean rely on services such as tourism and are likely to face renewed headwinds during this period of tighter fiscal and monetary policies. The IDB in its 2022 Report on Post Pandemic Recovery in the Caribbean advised that the region should prepare for prolonged effects of external economic shocks in 2023, including high food and fuel prices and rising international interest rates.

The majority of Caribbean countries rely on imports of petroleum products which represent 87% of primary energy consumption. As a result, oil importing countries in the Caribbean have reported spending of up to 15% of annual GDP on fuel imports. The heavy dependence on imported energy has negatively affected the economic performance of many Caribbean nations, contributing to instability in both fiscal and external accounts. This includes Trinidad and Tobago which was importing most of its crude oil and creating refined products for its domestic needs and for the regional market. This import and refine model was being carried on with significant loan support from the national Treasury. By 2018, in the absence of an improved crude oil supply the accumulated debt and projections for sustained losses, resulted in a restructuring of the state-owned company and this included a closure of the refinery, which in the absence of a new source of crude, stands mothballed at Point a Pierre in Trinidad. This refinery and its supporting infrastructure are available for restart, upgrade and use on reasonable terms to any interested refiner or crude supplier.

As a net importer of energy, the Caribbean has been turning increasingly to renewable energy. The region is blessed with an abundance of high-potential renewable energy resources. It is estimated that the Caribbean holds approximately 3000 MW of potential solar energy, 800 MW of potential wind energy, and over 3000 MW of potential geothermal energy. With the appropriate investment the region can substantially reduce its dependence on imported refined energy products by harnessing the natural power generated by solar, wind, geothermal and hydroelectric sources. Even so, complete or significant substitution for hydrocarbon products is a long way off.

Climate action via an accelerated renewable energy transition has made indirect gains across the globe as countries respond to oil and gas supply restrictions and increased energy prices resulting from market disruptions. In the climate-vulnerable Caribbean, green initiatives to mitigate the impacts of climate change is another major consideration, however, the pace of change in the Caribbean has been slow. In an October 2022 release the President of the Caribbean Development Bank, reported that to meet the region’s target of 47% of renewable energy by 2027 or 55% of renewable energy by 2030, would mean installing 320 megawatts of renewable energy capacity per year, compared with the average of 25 megawatts per year installed over the last nine years across the Region.

The slow pace of change has been due to the relatively high cost of the infrastructure needed to roll out national green energy programmes, which has made switching costs prohibitive for most countries in the region. Even though green energy infrastructure and equipment are much more competitive, the fiscal challenges that characterize much of the region remain a major impediment in the pursuit of this objective. The verbal encouragement, even aggressive demands of the wealthy countries, have not been accompanied by any requisite care and investment in our small debt laden and struggling economies.

Industrialization delivers jobs and products that raise living standards, but it requires baseload power that renewables cannot immediately provide. Nevertheless, in the face of the current economic environment, building domestic / regional energy supplies enhances the regions energy security and mitigates the geopolitical risks in relying solely on energy imports. Harnessing locally available/ regional resources also reduces transmission costs and increases control over setting of policy. To address energy security and resource-shortage concerns, we need to have an energy mix that capitalizes on domestically/regionally available and economically viable sources.

In this regard, crude oil which was once seen as being at the margins of the region has become a focal point with major discoveries in Guyana, Suriname, French Guyana, Belize and Trinidad and Tobago. Beyond this, there is a huge interest by major oil and gas companies prospecting off the coasts of Barbados, Grenada, Bahamas, Cuba, Jamaica and the Dominican Republic. Exploration success by new Caribbean entrants in the petroleum industry can be a game changer for the Caribbean region.

Fossil fuels (oil and gas) will remain the dominant energy source in the near to medium term. Regional availability and infrastructure will determine how various countries expand their domestic energy supplies. Industry innovation for both fossil fuels and renewable sources will continue to increase energy supply and energy efficiency, thereby improving energy security and reducing greenhouse gas emissions.

Global trends such as climate change are forcing a rethinking of investment, especially in the light of a reshuffling of global economic activity and significant demand growth in the developing world. However, fossil fuels are still the main energy source for the world’s economic engine and are cost effective. It is resilient and affordable energy that creates economic growth. Therefore, the concept of climate change should not prevent developing countries from using fossil fuels as sources of energy in pursuit of economic growth.

It is interesting to note that during the rethink, in so far as circumstances demand, some developed countries have fired up their old coal burning plants and have declared hitherto despised nuclear power as “clean energy.” The Caribbean response is to designate natural gas as the clean energy, reserve our right and willingness to continue to explore for and market oil resources and invest in green energy and technologies as far as we are able to. We will continue to make the case to the major global polluters to encourage investment in green initiatives identified within the region. We in the Caribbean are not alone in defending our energy interests as I have consistently done. Pulitzer prize winner Daniel Yergin in his seminal 2020 text, The New Map, points out that “ in the 1990’s, before shale, gas never accounted for more than 17 percent of (electricity) generation … by 2019… gas had risen to 38 percent” and continues to rise.

The regional energy landscape does not equip any single country to meet the energy security requirements of the region. A cooperative approach allows for shared risks and diversified perspectives, and will facilitate the development and execution of innovative solutions to the challenges associated with the energy demand for the region.

It is with this recognition that Trinidad and Tobago has taken a deliberate policy to engage our regional neighbours in the development of economic co-operation in the energy sector. To this end we have executed unitization agreements with the Government of the Bolivarian Republic of Venezuela, the Government of Barbados and the Government of Grenada, which will allow for the exploration of hydrocarbon resources in the maritime boundaries shared with our neighbours. We have executed a Memorandum of Understanding with the Government of the Co-operative Republic of Guyana and also with the Government of the Republic of Haiti on co-operation in the Field of Energy.

We also executed a Heads of Agreement with the Bolivarian Government of Venezuela for the development of the Dragon Field located in the eastern end of the Mariscal Sucre area of Venezuela to facilitate the sale of natural gas for supply, by pipeline, to the domestic market and the LNG facility located in Trinidad and Tobago. The progress in the development of the Dragon field was disrupted and delayed by US sanctions against Venezuela. Following the request by the Government of Trinidad and Tobago, the US Treasury Department recently granted the Government an initial two-year (OFAC) licence to develop the Dragon field with a view to enhancing Caribbean Energy security.

In today’s economic environment, however, investments in enabling infrastructure and technology can be costly even to the point of being prohibitive. Trinidad and Tobago has the energy infrastructure to monetize hydrocarbon resources produced by its Caribbean neighbours. The country possesses ten ammonia plants, seven methanol plants, four LNG plants, an iron and steel complex which at peak performance utilized as feedstock four bcf of natural gas per day and an oil refinery which processed up to 140,000 barrels of oil per day. Our current natural gas production averages 2.8 bcf per day and we are still exploring the market for a user for the oil refinery.

Trinidad and Tobago therefore provides a viable option for those countries that wish to optimize the monetization of their hydrocarbon resources without incurring substantial capital expenditure. The proposed Dragon Gas Project with Bolivarian Government of Venezuela is an example of Government to Government co-operation in the monetizing of natural gas resources. We are open to discussion with our other Caribbean neighbours on the monetization of their hydrocarbon resources in Trinidad and Tobago. We would also wish to assist you in developing programmes to meet the necessary training needs of your energy personnel. Trinidad and Tobago possesses a number on non-governmental and government agencies that have been meeting the human resource development needs of the energy and industrial sectors of Trinidad and Tobago as well as emerging oil and gas economies.

As an emerging major oil and gas producing region, we have a window of opportunity to take a proactive approach to leveraging our collective knowledge and expertise to optimize new opportunities going forward. Linking the energy and industrial transformations to a collaborative economic strategy would ensure that the region makes the most out of its abundant oil and gas resources. We must use our energy resources for the benefit of our people, to build resilience and scale in our economies and to create energy security for the region.

I am confident that the spirit of community, which has been key to our success as the oldest surviving integration movement in the developing world, will foster and augment the level of co-operation that can make the Caribbean an economic force in the region. In closing, I wish to thank the Government of the Cooperative Republic of Guyana for the invitation and the opportunity to deliver remarks to this distinguished audience and to wish all participants a successful Conference.

 

 

Interest in Dragon Gas at Guyana Energy Expo

Feb 13 2023

The Dragon Gas project is expected to be a point of interest at an International Energy Conference and Expo in Guyana which Prime Minister Dr Keith Rowley will address,  one of two regional events he is attending .

Tomorrow Rowley visits the Bahamas for the 44th Regular Meeting of the Conference of Heads of Government of the Caribbean Community (Caricom).

Also addressing the Expo are Guyana President Dr Mohamed Irfaan Ali, Vice President Dr Bharrat Jadego, St Vincent Prime Minister Dr Ralph Gonsalves, former Colombian President Ivan Duqu and Liam Mallon, President of ExxonMobil Upstream Oil and Gas Company.

The theme of Harnessing Energy for Development aims to facilitate the exchange of ideas, propositions, and plans for advances in the energy sector.

This is Rowley’s first overseas trip since the United States granted a two year licence for T&T to pursue plans to develop the Dragon Gas field in Venezuela .

Guyana‘s Minister of Natural Resources, Vickram Bharrath said: “We have no problems discussing the Dragon field issue at the Expo. The announcement on the Dragon Field matter generated a lot of interest when it first arose a couple weeks ago,”

Bharrath expects there will be questions about the project for Rowley from potential investors. There was no report on the outcome of negotiations Young held in Caracas last week.

Young is in a regional collaboration panel with Wazim Mowla, Associate Director/Caribbean Lead, Atlantic Council, Robert Persaud, Foreign Secretary, Guyana and Dr Thackwray Driver, CEO, Energy Chamber of T&T.

 

 

 

Government cooperation on Dragon deal

Feb 14 2023

At the second annual International Energy Conference and Expo in Guyana, Prime minister Dr Keith Rowley lauded the proposed Dragon Gas deal between T&T and Venezuela as an example of government-to-government cooperation in the monetising of natural gas resources. He believes other cooperation within the region can also come to fruition as T&T provides a viable option for those countries that wish to optimise the monetisation of their hydrocarbon resources without incurring substantial capita expenditure and delay.

“In today’s economic environment however investments in enabling infrastructure and technology can be costly even to the point of being prohibitive.TT has the energy infrastructure to monetise hydrocarbon resources produced by its Caribbean neighbours and can do that now. the country possesses, 10 ammonia plants, seven methanol plants, four LNG plants and an iron and steel complex.”

Rowley also plugged the Trinidad refinery for delegates in search of a refinery.

“This refinery and its supporting infrastructure are available for restart, upgrade and use on reasonable terms to any interested refiner or crude supplier.”

 

 

 

Guyana, a new destination for manufacturing companies

Jan 27, 2023

With the forthcoming Wales Gas-to-Energy project promising to slash energy costs in Guyana by half, President Dr. Irfaan Ali told regional investors that Guyana can be the new destination for manufacturing companies seeking to expand. The President, talked up Guyana’s diversification plans. at the Jamaica Stock Exchange’s Regional Capital Market Conference.

The government is seeking to expand multiple sectors instead of focusing on oil and gas and the manufacturing and industrial development sectors will be a prominent part of Guyana’s diversification plans, owed to the lower cost of energy. He urged regional investors to capitalise on the opportunity and encouraged regional manufacturers to consider Guyana as a new place where they can expand.

“Cutting energy consumption by 50 per cent will place Guyana in a competitive pace for manufacturing and industrial development. Already, we are marketing Guyana as the premier destination for industrial and manufacturing expansion and development,” Dr. Ali said.

Vice President of the Jamaica Manufacturers and Exporters Association, Richard Coe said there is considerable interest in Guyana. Coe is part of a visiting delegation seeking trade and investment opportunities here.

He is also the Managing Director of Manufacturing Company Fleetwood Jamaica Limited and he believes there is scope for the company to establish manufacturing operations in Guyana.

 

 

 

Guyana invites Caribbean financial institutions

January 27, 2023

President Irfaan Ali promised the same support to foreign countries will be afforded to Caribbean nations and nationals investing in Guyana.

“As we have indicated before, the assets of our financial sector are insufficient to develop our petroleum industry, much less to also drive economic and social transformation on the scale which we are pursuing. Therefore, Guyana has set out on a deliberate path to forge enhanced partnerships with major economies such as Brazil, Canada, China, India, the United Arab Emirates, Qatar and the United States of America. An open invitation is extended to Caribbean financial institutions to come to Guyana and to explore the opportunities available. We are just as keen to partner with regional institutions as we are in forging international partnerships.”

 

 

Guaracara refinery sale

Feb 14 2023

TT Finance Minister Colm Imbert will act for Prime Minister Rowley in his absence in Guyana and The Bahamas

Rowley will be accompanied by Minister Stuart Young in Guyana before attending the 44th Regular Meeting of the Conference of Heads of Government of the Caribbean Community in The Bahamas to focus on the CARICOM Single Market and Economy, Climate Change, including Climate Finance, Agriculture and Food Security, Security, and Health.

Rowley promoted the Guaracara refinery for sale at the International Energy Conference and Expo which heads of government attended.

Most Caribbean countries are spending up to 15 per cent of annual GDP importing petroleum products. Dependence on imported energy negatively affected economic performance and destabilised fiscal and external accounts. With significant loans from public funds T&T imported crude oil to refine products for domestic and regional markets.

In 2018 as crude oil supply shrank, debt and losses resulted in restructuring of SOC Petrotrin and closure of the refinery, which is now idle in Trinidad.. This asset and its infrastructure are available for restart, upgrade and use on reasonable terms to any interested refiner or crude supplier..

Later in his address on the Dragon Gas deal he again reminded delegates of the availability of the refinery for sale.

“We are still exploring the market for a user for the refinery as mentioned.”

 

 

 

 

[  Caveat Emptor
The Potemkin Promotion by a Desperate Duo touted the iconic monument to imperial ingenuity, once the largest in the Commonwealth, after decades of mismanagement and union militancy crashed the prosperous petroleum industry, creating wealth for a century.

The sales pitch fell on deaf ears as the industry transitions to gas and RE.  Sugar Ethanol can be diverted from spirits to provide biofuel. Volcanoes can supply geothermal energy. Rivers and waterfalls can deliver hydropower. Solar and wind power are available year-round.

Ramshackle rum republics follow the Homicidal Haiti college of criminality. In 2022 Jamaica recorded 1498 murders and Trinidad logged a record of 614, with homicides at 103 in 59 days of 2023.   Heinous crime includes Break-ins, Banditry, Robbery, Kidnapping, Rape, Racism and Pickpocketing.   Tourists are killed even during tax- funded Carnival marked by chaos, lawlessness, gangs, violence,, obscenity, profanity, immodesty, lewdness and drunkenness.

Rife with corruption from the Head of State to Government, Police and public services, the reprobate regime demolished the sugar industry and neglected agriculture for imports. Greedy for power, authorities nationalised industries and other activities. Steel and Petrochemical plants closed and the state Gas Company suffered a $2billion loss after squandering $240 million of public funds on a defunct LNG Train.

Incompetent Caricom aid addicts lack business acumen and public spirit, allowing LIAT airline to collapse without investing ferries to serve the archipelago. The region is in thrall to a blackpower zeitgeist, demanding reparation for historic woes instead of repatriation to ancestral homelands in AU domiciles of origin.  ]

 

Jamaica

A New Floating Solar Project

Caribbean Journal

Jamaica has been at the forefront of the green energy movement in the region, particular with its focus on solar and wind. Now it’s launching another innovation: a floating solar project. The new “floating” project will consist of floating solar photovoltaic panels at the Mona Reservoir in St Andrew. Placement of 45 megawatts of solar panels on the surface of the reservoir will generate clean, renewable energy for the site.

The $62.5 USD million project is being undertaken by Derillion Energy Limited.

Most of the energy generated from the panels will be used in the treatment and pumping of the water. Because the panels are deployed on the reservoir surface, they reduce evaporation of the water.

“We will have some storage capacity, meaning that when the sun goes down, we will still be able to benefit from the solar energy that is created,” said Jamaica Prime Minister Andrew Holness.