Government has given the Gas Export Task Force approval to
negotiate investments in further LNG expansion, partnership
in regasification facilities particularly in the United States
as well as investments in shipping and other areas of the
LNG value chain.
Energy Minister Eric Williams told a news conference on Friday
that the decision was taken at last weeks Cabinet meeting
and that the Ken Julien-led Task Force would be required to
also liaise with the steering committee looking at cross border
He said the move is designed to ensure that T&T benefited
from greater revenue from its natural gas.
Williams said it was necessary to invest along the value chain
because that is where the money is.
He said: Clearly we need to have that kind of market
involvement and intelligence to benefit our people. So when
people look at the piece of iron in Point Fortin that is not
the big deal. That is not the value. The value is the involvement
in the market place and that is where we have to go.
Williams said some of the funds from the Revenue Stabalisation
Fund will be used to invest in downstream industries.
He also added that despite the disagreement over the Petro
Caribe matter the Government will continue its efforts to
develop the cross-border reserves between T&T and Venezuela.
He said: As you know our Prime Minister is tasked with
continuing a conversation with President Chavez on many different
levels and those of us who are involved in supporting him
carry on supporting those conversations.
He added: So, yes, we have had preliminary conversations
at different levels with just do we do with cross border natural
gas recognising the aspirations of the people of both countries.
He admitted that there were difficulties but that there could
be a solution.
foreign policy and diplomacy there are many complications
and variables...we have very good relations and we have very
The Energy Minister said however he was happy with the cross-border
He said: One of the things we always agree on when I
meet with my colleague, Minister Rafael Ramirez is that we
do not need to talk about that (cross-border negotiations)
because it is going so well. The teams are meeting yes we
have some people challenges so time scheduling issues but
things are going well.
Williams said T&T will consider investments in the power
sector in the United States.