Young calls for energy security at CERAWeek

ENERGY minister Stuart Young ended day one of CERAWeek – a gathering of global leaders in the energy sector – on March 18, having discussed the provision and access of financing for developing countries, like Trinidad and Tobago, to attain energy security in the transition taking place.

Young issued a statement on March 19 updating the public on his trip to Houston, Texas.

He said in addition to financing, the difficulties experienced by developing countries regarding access to energy security were explored.

Also, the pressures being faced as a result of global climate change and the developed world’s insistence on moving quickly towards renewables without providing the resources necessary to facilitate such a transition were discussed at the gathering.

Young said, "I met with Mr Murray Auchincloss, CEO of bp, Mr William Lin, executive vice-president, regions (corporates and solutions), and other executives of bp.

"Discussions surrounded bp’s operations in TT, the success of restructuring ALNG (Atlantic LNG), the pursuit of deepwater gas, Manakin/Cocuina and other projects that bp would like to pursue with TT."

He said he also met with Wael Sawan, CEO of Shell plc, Zoë Yujnovich, director of Shell Integrated Gas and Upstream, and other Shell executives.

"Discussions surrounded (the achievement) of the 30-year licence from Venezuela for the Dragon gas field, Manatee and other projects that Shell would like to pursue (with TT).

"Both bp and Shell remain committed to TT as articulated by their respective CEOs and we will continue working with them to ensure future gas production in and for TT," said Young.