The TT Manufacturers Association (TTMA) has announced it is in the “advanced stages of discussions” with the Venezuelan Gas Processors Association (AVGP) on the Rio Caribe Project — an initiative designed to create new opportunities in the downstream gas sector.
TTMA president Christopher Alcazar says if successful, this project “will open new doors for the manufacturing sector, given the fact that the Rio Caribe field has commercially extractable quantities of Ethane; a petrochemical that is vital to the plastics industry.”
Alcazar added that AVGP is “keen on ensuring that there is sufficient local content within the ambit of this project” and it is a very positive sign for TT’s private sector, the country and for the TTMA’s future relationship with the AVGP.
Established by executives from the Venezuelan Oil & Gas Industry in 1984, AVGP is a private, non-profit organisation whose mission is to promote research and the interchange of information about the safe industrial utilisation of natural gas and its products. AVGP also supports sound business opportunities in matters relating to Venezuela’s natural gas industry.
The TTMA also said it “enthusiastically looks forward to the finalisation of this arrangement, and the benefits that it will bring to the manufacturing community and the citizens of TT.”