Government is planning to add new subsidies onto CNG, to encourage more motorists to use the fuel and protect the environment. "Compressed Natural Gas (CNG) is the way to go," said Energy Minister Conrad Enill, adding that utilising more CNG will enhance T&T's commitment to the environment, and is a main item on the agenda at the Copenhagen Summit. "The promotion of CNG usage furthers the Government's commitment to the Copenhagen Summit in recognising the onset of global warming and playing our part in minimising the outpourings of greenhouse gases," Enill said. Addressing stakeholders at the launch of the Chamber's Centennial Energy digest, Enill said the project is still in its planning stages, but government is committed to doing its part to protecting the environment.
"Consistent with this policy shift, Government would soon announce a full plan for the re-launch of CNG as an alternative vehicular fuel," Enill said. Referring to the energy sector, Enill anticipates that there are trying times ahead, but he did not explain further what it meant for the energy sector in 2010. He declared that now is the time for T&T to steer the course of the oil and gas industry and to implement new environmentally-safe energy policies where natural gas would play a critical role. "It is estimated that there would be a 49-75 per cent reduction in carbon monoxide emissions, a 25 per cent reduction in carbon dioxide emissions a 39-90 per cent reduction in nitrogen oxide emission and an almost total elimination of particulate matter from diesel engines," Enill said. "The country will benefit from the reduction in subsidy on gasoline and diesel and increased export earnings from released liquid petroleum fuels," Enill said.
On the issue of Liquefied Natural Gas (LNG) Enill said T&T would continue to be a major exporter of LNG since the US market is blossoming. "At current levels of demand, the US has about 90 years of proven and potential supply and with more drilling experience, it is envisaged that US estimates will likely rise even further in the next few years. There are implications for T&T, as 70 per cent of our LNG shipped to the US," Enill said. But it's not smooth sailing when it comes to change as Enill said there are challenges when it comes to the change of focus in the energy sector. "We can make no mistake as to the considerable supply of US shale gas, as gas reserves moved from 616 tcf in 200 to 2074 tcf in 2008. This substantial increase has recalibrated the supply dynamics of the global natural gas market," Enill said.