Energy chamber head: Faster approvals, tech adoption attract investment

MALA Baliraj, chair of the Energy Chamber of TT, has called for increased investment in the country’s energy sector to drive production, reduce the carbon footprint and upskill the workforce.

Delivering the chair’s address at the chamber’s annual energy conference at Hyatt Regency in Port of Spain on February 10, Baliraj outlined three strategic imperatives for the sector: accelerating project approvals to boost oil and gas output, expanding renewable energy investment and equipping the local workforce with modern skills.

Baliraj, the Massy Wood CEO, stressed the importance of sustained reinvestment in upstream oil and gas projects to maintain and grow production levels.

“We require constant reinvestment if we are to increase national oil and gas production, especially in upstream drilling,” she said.

She highlighted major projects already
under way, including Manatee, Cypre, Mento, Coconut and the Brechin Castle solar farm, along with others such as Calypso, Ginger, Blackjack, Onyx, and the NewGen green hydrogen project, which are advancing toward investment decisions.

While commending improvements in the project approvals process since last year’s conference, she stressed the need for continued focus on expediting processes.

“Despite this success, we need to maintain a constant focus on the pace at which project approvals and final investment decisions are made,” she said, adding that delays could hinder economic growth and the sector’s overall performance.

Baliraj also pointed to the importance of investing in renewable energy in light of the global push for lower-carbon fuels and the challenges posed by the Carbon Border Adjustment Mechanism (CBAM) on TT’s exports.

“For a small-island nation like TT, there are also critical non-climate reasons to invest in renewables and energy efficiency: the less gas we use in electricity generation, the more gas will be available for foreign exchange-earning LNG and petrochemical exports,” she said.

While TT has made progress, with the Brechin Castle solar farm in development, Baliraj noted that untapped potential remains, particularly in small-scale renewable energy investments at the household and commercial levels.

Addressing human capital development, Baliraj acknowledged the industry’s evolving nature owing to digitisation, automation and the widescale adoption of artificial intelligence.

“There must be greater focus on programmes that invest heavily in training young people entering the industry, as well as retraining the existing workforce,” she said.

She also called for improved ease of doing business to foster a more investment-friendly environment. She suggested regulatory agencies need to become more efficient and that companies must modernise outdated business processes.

Baliraj acknowledged the role of service companies and contractors in maintaining operations in the sector.

She reflected on last year’s local content forum, where the Energy Chamber focused on ensuring timely payments to contractors and subcontractors.

“This could significantly improve the cash flow of smaller businesses,” she said.

She said she was pleased to report that 44 per cent of members had noted improvements in payment timelines over the last six months.

Baliraj also addressed workplace safety, stressing the importance of the Safe to Work (STOW) programme.

“We have all recently been tragically reminded of the high risks that we face in the sector,” she said, offering condolences to the family and friends of Pete Phillip, an offshore worker who was reported missing after Rig 110 partially collapsed into the sea near the Trinmar base in Point Fortin on December 22. His body has not yet been recovered.

She revealed that 375 companies, including many small businesses, are now STOW-certified, though she acknowledged concerns over certification costs and delays in issuing certificates.

Baliraj called for a balanced approach to the energy sector’s challenges, advocating for large-scale investments in gas production, decarbonisation and operational improvements, required for sustainability.

“The Energy Chamber continues to be committed to the whole picture, and we hope that is reflected in the diversity of the content that will be delivered here over the next two days,” she said.