Backed up by Trinidad and Tobago’s longstanding role as an oil and gas producer, the twin island republic’s Prime Minister Dr. Keith Rowley on Tuesday offered Guyana the benefit of his country’s technical expertise.
Dr. Rowley is currently in Guyana for the Energy Conference, which lasts from February 14 to 17.
On the opening day, the Prime Minister spoke about what his country has to offer and also stressed the need for a collaborative economic strategy in the region.
“As an emerging oil and gas region, we have a window of opportunity to take a proactive approach to leveraging our collective knowledge and expedite our expertise to optimise new opportunities going forward.
“Linking the energy and industrial transformations to a collaborative economic strategy will ensure that the region makes the most out of its abundant oil resources,” Rowley said.
According to Rowley, Trinidad has the energy infrastructure to monetise hydrocarbon resources produced by its Caribbean neighbours and can do that now.
“The country possesses ten ammonia plants, seven methanol plants, four LNG plants…and an oil refinery which recently produced up to 140,000 barrels of oil per day.”
Guyana and Trinidad have pursued a collaborative approach in trade and investments and, of course, in oil and gas.
A Memorandum of Understanding (MOU) on trade and investments was signed in 2022 between the two countries, while an energy sector MOU was also signed in 2018.
Trinidad has also said it wants to participate in the energy corridor discussions progressing between Guyana and other regional players including Suriname, Brazil and even Barbados, which has natural gas potential.
“Our current natural gas production averages 2.8bcf per day…Trinidad and Tobago therefore provides a viable option for those countries that wish to optimise the monetising of the hydrocarbon resources without incurring substantial capital expenditure…”
