Hi Maurice, We tropo-calypso wining Trinis and liming Togagoans have more reason to cheer, as we are about to be buried under Greensbacks and Sterlings, however worth-less, in exchange for simple permission to stick pipes into the ocean bottom. Just like stock investors in ZIM, we take what we are given, and keep what we deserve:0)
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THE AMERICAS & MIDDLE EAST: Trinidad aims to be the Caribbean powerhouse
By Canute James in Kingston
FT.com site; Jul 15, 2002
Trinidad and Tobago has unveiled a plan to use its expanding energy resources to become the powerhouse of the Caribbean region, by supplying gas by pipeline and tankers to its neighbours - and eventually to Cuba.
The country of 1.3m people, located off the coast of Venezuela, has become one of the world's main producers of liquefied natural gas though investments of $3bn in the past four years by big European and US companies.
Patrick Manning, prime minister, said neighbouring countries would benefit from lower energy costs from his administration's plan to supply them with natural gas, liquefied natural gas and compressed gas, in the hope that it will stimulate their industrial development.
The project will provide a new market for the big players in the country's energy sector, including BP, British Gas and Repsol YPF of Spain. The first phase of the venture will be a gas pipeline running north from Trinidad and Tobago, through the French islands of Martinique and Guadeloupe, to Puerto Rico. Spurs would supply Barbados, Antigua, St Kitts and Dominica.
Other countries, including the Dominican Republic, Haiti, the Bahamas and Jamaica will be supplied with gas at a later stage in the project, either through pipeline, or by tankers.
Mr Manning said: "We are hoping that eventually Cuba will be part of this project."
Feasibility studies indicate the project is viable, and will reduce energy costs to the region by up to 30 per cent, said the prime minister. He said the pipeline would cost about $500m. "The matter of funding is yet to be determined, and decisions are to be taken whether grant funds that are available could be used, or other sources are found. A major bank has already indicated its interest in participating."
Denzil Douglas, prime minister of St Kitts-Nevis, said: "This is an important development because fuel costs for eastern Caribbean countries are high,. This is an offer that will help to ease the burden of the financial problems that we are facing."
Mr Manning said countries receiving the gas could become part-owners. Completion of the initial pipeline would take three years. |
