The Energy Chamber of Trinidad and Tobago has expressed concern about the future of the gas industry in this country, following news that Proman Trinidad and Tobago has downed two of its methanol plants, effective today.
In an official statement, the Energy Chamber declined to comment on the negotiations involved, but encouraged all energy sector players to “collectively find mechanisms to reshape the gas industry to make it robust and sustainable”.
The following is the full text of the Energy Chamber’s statement…
Energy Chamber: Statement on the Future of the Natural Gas Industry In T&T
The Energy Chamber has noted the media statements on the inability of the National Gas Company and MHTL/Proman to successfully conclude negotiations on a new gas supply contract to come into effect on the expiry of the temporary extensions agreed through to the 31 March 2021.
In keeping with our longstanding policy, the Energy Chamber will not publicly comment on a commercial negotiation between two of our member companies. Nevertheless, the Energy Chamber wishes to express our deep concern about the future of the gas industry in Trinidad & Tobago and the utmost importance of the current consultation process underway between players in the gas value chain and the Government of Trinidad & Tobago and facilitated by Gas Strategies. It is important that this project leads to a clear policy and a clear strategy to encourage the continued investments needed across the value chain.
The gas industry has brought huge benefits to the people of Trinidad & Tobago and created significant wealth and good livelihoods for many citizens. Over the past half century Trinidad & Tobago has successfully built a gas value chain that allowed us to monetise our gas resources where many other countries have failed.
It is vital to the future of our country that we collectively find mechanisms to reshape the gas industry to make it robust and sustainable for the next fifty years, while we navigate the energy transition to a lower carbon future.