Exporting services is a central element of the diversification of T&T's economy. One of the most promising service sub-sectors for exports from T&T is the energy services sector and exporting services is a key element of the Energy Chamber's strategy for the transformation of our economy. The long-term future of the T&T energy services sector rests upon the ability of the sector to export services to other markets. The Energy Chamber recently concluded another very successful trade mission to Ghana. In Ghana, there is clearly a high degree of interest and respect for what T&T has managed to achieve in the energy sector. Eight companies from the Energy Chamber participated in this trade mission and represented energy services across the value chain of the energy sector, such as training, pipeline construction, inspection services, wastewater treatment, fabrication and engineering services.
Ghana's goals
Ghana is well endowed with a variety of energy resources, including biomass, hydrocarbons, hydropower, solar and wind. The country's energy sector's vision is to:
• develop an energy economy
• secure a reliable supply of high quality energy services for all sectors of the Ghanaian economy by 2012, and,
• become a major exporter of oil and power to its neighbours.
The energy development agenda is focused on widening the access of energy to all households, productive sectors and social infrastructure, in order to facilitate the implementation of the Growth and Poverty Reduction Strategy, which is a millennium development goal (MDG)-based poverty reduction strategy for Ghana . On December 15, 2010, Ghana began to pump its first commercial oil after the discovery of the offshore Jubilee Field three years ago. Initial production of around 120,000 barrels per day will rank Ghana as sub-Saharan Africa 's seventh largest producer, with output set to double within three years.
Prospects for T&T
There are very strong prospects for T&T companies in the development of the proposed pipelines to bring gas onshore and the related facilities around that development. In addition, there are a number of prospective shallower oil and gas reservoirs, which will provide excellent opportunities for T&T companies. While it is early days for the industry in Ghana, there are clearly huge opportunities.
What was evident was that the Ghanaians are bent on not following the path of some of their neighbours, where the oil find ended up being a curse than a blessing. There was sense that they are committed to ensuring that their recent finds would be to the benefit of their population and alleviate the poverty that is still rampant.
There is also a strong will for creating employment for the locals. This is where T&T has the obvious advantage in getting into the Ghanaian market, as our companies will not be flying in external labour, but instead will be training Ghanaians and sharing expertise. The Energy Chamber has outlined a policy proposal for the development of the energy services sector entitled, Playing to our Strengths, in recognition of the fact that the sector is one of the strongest sectors within our economy. T&T nationals already have an excellent reputation in the energy sector. This can be leveraged to build the reputation of T&T service companies. The strong historical links between West Africa and the Caribbean are also important for the business relationships and many people in both countries see the possibilities of "South-South trade" as being important to their economic development. A supportive national policy environment and dedicated Government support programmes need to be implemented in order to build on the existing successes and further develop the export of energy services.
Priya Marajh:
priya@energy.tt, or 6-ENERGY