Young warns of energy sector fallout

FORMER energy minister and prime minister Stuart Young has described the shutdown of Nutrien’s Trinidad operations at the Point Lisas Industrial Estate as a result of “unfortunate mismanagement of the energy sector.”

He warned it could have far-reaching consequences for Trinidad and Tobago’s global competitiveness.

In a Facebook post on October 23, the same day the shut down was confirmed, Young said the fallout between Nutrien and National Energy was having “a knock-on effect” on the provision of carbon dioxide (CO₂) to manufacturers and other users locally and across the region, with a shortage looming.

“This would affect, for example, the manufacturing of carbonated beverages, which is a major export product for TT.”

Nutrien, in a statement issued on October 21 and published on its website, said the decision followed “port access restrictions imposed by NEC and a lack of reliable and economic natural gas supply.”

The company said these challenges had reduced the free cash flow contribution from its Trinidad Nitrogen operations “over an extended period of time.”

Nutrien produced approximately 85,000 tonnes of ammonia and 55,000 tonnes of urea monthly from its Trinidad facility. Despite the shutdown, the company said it expects to meet its 2025 nitrogen sales guidance of between 10.7 and 11.2 million tonnes, supported by its North American output.

Young described the situation as the mismanagement of relationships in the energy sector that is unfolding, which he said is leading to fallout and has the potential for long-term plant closures. He added the energy sector remains TT’s largest foreign exchange earner and a major employer, stressing that maintaining investor confidence was critical.

He said one of TT’s competitive advantages had been maintaining mutually respectful relationships with decision-makers in energy companies. He said the government was doing the opposite.