PM: TT can be regional ‘gas-handlers’

TT can be the “gas-handling centre” of the southern Caribbean and northern South America, the Prime Minister said yesterday.

“Where we are located geographically and geologically, we should be in this (hydrocarbon) business for a long time,” Dr Rowley said, as he pointed out TT’s proximity to new and untapped gas reserves in places like Grenada and Venezuela. “TT is hoping to be a part of (these gas finds) because of where we are located. Grenadian gas can come to market via pipeline in TT and (gas fields in) eastern Venezuela are close to TT plants and markets.”

Rowley was the feature speaker at a signing ceremony between the National Gas Company (NGC) and Nutrien, one of the biggest fertilizer producers in the world. Nutrien uses approximately 13 per cent of the gas produced by NGC.

Today was a satisfying day, he said, because despite periods of standstills and stalls, and the NGC even facing claims against it for underperformance in the period leading up to the negotiations, the two parties were able to find common ground.

“We didn’t get what we wanted; nor did they – but we both did more than it appeared we would when we started out,” he said.

TT is still an attractive place for people to do business, he declared, even as the country moves beyond incentives as the overriding consideration for doing business. “We are in this business because the world market is where we can make value for shareholders,” he said.

“These contracts tell us that even though we are moving to different provinces looking for gas, we have found a way to market that gas and monetize the product. These companies know they can get a decent return. If we can see it that way we can look forward to a brighter future.”