Trinidad offers other Caribbean states oil at concessionary prices
TRINIDAD and Tobago has offered Caribbean states concessionary oil prices that can be worked out bilaterally under mutually agreed terms and conditions.
Coming out of this week's meeting of Caribbean Energy Ministers in Trinidad, ministers and other heads of delegation also consented to the establishment of a Caribbean Hydrocarbons Cooperation Commission to "enhance hydrocarbons policymaking and utilization in the region".
At the Tuesday meeting were ministers and officials from the twin-island republic, Bahamas, Belize, Cuba, Guyana, Jamaica and Suriname.
The decisions reached are in a joint declaration the ministers and delegation heads signed.
Trade, Tourism and Industry Minister, Mr Geoffrey Da Silva represented and signed for Guyana
The Chronicle understands that issues coming out of the meeting are under discussion at Cabinet level.
The objective of the Caribbean Hydrocarbons Cooperation Commission proposed in a document prepared by OLADE - the energy organisation for Latin America - was regarded as "acceptable" by the delegates.
Its proposed formation has taken into consideration the "high dependence of the Caribbean countries on petroleum and petroleum derivatives for the satisfaction of their energy needs and the development of economies", a conference document said.
It was recommended that the commission be comprised of one delegate from each of the following countries which might want to become members:
Antigua/Barbuda, the Bahamas, Barbados, Belize, Cuba, the Dominican Republic, Grenada, Guyana, Haiti, St Kitts/Nevis, St Lucia, St Vincent and the Grenadines, Suriname and Trinidad and Tobago.
Representatives at the meeting concluded that the chairmanship of the commission could be rotated every two years at the discretion of ministers.
They agreed that Trinidad and Tobago will chair the commission for at least the first two years of its existence, according to the `aide memoire' from the meeting.
It said the commission will be responsible for developing and implementing the work plan and consider reports of activities that have been completed.
It will report to the meeting of the Ministers with responsibility for Energy in the Caribbean, which will be the "supreme decision-making body", the document said.
Included in the responsibilities of the commission will be Trinidad and Tobago's offer to provide technical advice and assistance to other countries with regard to petroleum activities; advice on petroleum exploration activities with respect to maritime boundaries, and studies on petroleum products prices.
Signatories have agreed to promote the diversification of the energy matrix of the Caribbean through the increased utilisation of natural gas.
The document said the topic of increased utilisation of natural gas is to be referred to the newly formed Caribbean Hydrocarbons Cooperation Commission which will undertake to develop the terms of reference for a detailed feasibility study on the utilisation of natural gas in the energy matrix of the Caribbean, and along with OLADE identify funds and select a suitable entity to carry out the study.
Ministers and officials at the Trinidad noted Trinidad and Tobago's commitment to grant concessionary prices to Caribbean states which would be disposed to accept this facility, and "any further details with regard to pricing arrangements could be worked out on a bilateral basis under mutually agreed terms and conditions".
Consensus was also reached to reinforce and broaden the Caribbean Energy Action Programme (CEAP); request a review by OLADE on the "reporting mechanisms" associated with CEAP and report to the Meeting of Energy Ministers within three months.
The countries expressed appreciation to OLADE for the "excellent work" it has been doing with regard to the Caribbean, and requested that the organisation continue its support for energy development in the region through participation in activities and programmes. (SHARON LALL)
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