Moonilal: Secret energy deals will be revealed

NEWLY-APPOINTED Minister of Energy and Energy Industries Dr Roodal Moonilal intends to "unravel all secrets" of energy deals made by his predecessor Stuart Young when he heads to the office on May 5.

Speaking to reporters after being sworn in at President's House, St Ann’s, on May 3, Moonilal said he would first tackle the details of the deal struck with Venezuela to develop the Dragon Gas field which had to be shelved after the US pulled its Office of Foreign Assets Control (OFAC) licences.

Moonilal said he was not eager to continue any work on this deal given the risks involved.

"The Dragon deal, as you know, is off given the emergence of another administration in the United States. That was always a problem and doubtful. We warned the government about that."

"I would not be eager to pursue arrangements and commit this country where we do not have full or complete control over the arrangements and that was one case where there was a risk that we warned about so we will have to review what they have done."

Moonilal said he intends to also request a status report on the Loran-Manatee cross-border reservoir and seek guidance from the Cabinet on pursuing its development.

He said he would also be taking a close look into the process of selling the Petrotrin refinery. The UNC promised to reopen the refinery on the campaign trail but the previous administration had begun the process of selling it, having selected Nigeria's Oando PLC as a preferred bidder.

"The first thing is to review that matter with the refinery, whether a deal has been made and what is the nature of that deal and we will look to have an independent assessment on the state of the refinery and work with the OWTU, with the workers and other stakeholders, to look at the feasibility of quickly restarting the refinery at Pointe a Pierre."

He said the new government's focus will be on rebuilding the energy sector and renewing partnerships.

"Our vision is for TT to reemerge as the energy capital of the Caribbean."

During her address, Prime Minister Kamla Persad-Bissessar said she has mandated Moonilal to explore opportunities for oil and gas with Guyana, Suriname and Grenada.

Moonilal said he will also take the necessary action to deal with the issue of illegal quarrying.