PORT OF SPAIN, Trinidad, CMC – The Energy Chamber of Trinidad and Tobago is calling for a renewed national focus on securing and expanding domestic natural gas supplies to safeguard the country’s economic, energy, and national security.
The call comes in the wake of recent developments regarding Venezuela’s suspension of energy-sector agreements with Trinidad and Tobago.
On Monday, President Nicolas Maduro announced the “immediate” suspension of energy agreements with its Caribbean neighbor, a few hours after his Vice President, Delcy Rodríguez, said a formal proposal had been submitted to him to suspend the Energy Cooperation Framework Agreement with Port of Spain.
During his weekly television show, Maduro accused Trinidad and Tobago of acting as the “aircraft carrier of the U.S. empire” and said he had no choice but to withdraw from treaties signed with the country 10 years ago.
Maduro said that Trinidad and Tobago “ran out” of gas before Venezuela had agreed to help it with the deal.
However, Prime Minister Kamla Persad-Bissessar has dismissed Venezuela’s suspension, saying Port of Spain will continue to pursue its own energy and economic strategies.
In its statement, the Energy Chamber said it supports the government’s commitment to national security and energy independence, underpinned by the need for increased availability of natural gas for the country’s petrochemical plants in Point Lisas and La Brea, and the LNG facility in Point Fortin.
It said that this should be done by enhanced recovery from existing gas fields already in production, the development of new gas fields in shallow and deepwater within Trinidad and Tobago’s exclusive economic zone, the development of cross-border fields straddling maritime boundaries with Venezuela, Grenada, and Barbados, and pipeline imports from neighboring countries, where geopolitically feasible.
“While the current geopolitical climate presents short-term challenges for Venezuelan imports, the Chamber emphasizes the urgency of accelerating policies and investments that unlock domestic and regional gas sources.
“The Energy Chamber remains committed to working with the government and industry stakeholders to implement a forward-looking energy strategy that aligns with national interests and secures a prosperous future for all citizens,” it added.
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