Dean: T&T energy export demand slashed

New discoveries in alternative sources of energy by developed countries such as the United States and Australia has slashed export demands from developing countries like T&T, which has this commodity in large supply. But Gordon Deane, chairman of energy company Atlantic says, however, that for the global energy business the future appears bright. He said this was the case despite challenges facing the global economy.

“Energy continues to be the fuel for industrial and economic development. Certainly for T&T, the energy sector continues to be a major contributor to the economy, even if marginally less than in the past. One challenge facing our country is how do we diversify our economy in order to function in an era that may be without our current local reserves of oil and gas,” he said.

Deane said another challenge was this country’s ability to maximise the future value of today’s resources. He said for Atlantic, being a company committed to sustainability, that was a question its management team always pondered.

“It is our view that our country’s rich and proven hydrocarbon basin still provides ample opportunity for several years of exploration and production. But even so, there must be some social investment to build capacity to seize those future opportunities.

This is why corporate responsibility programmes are so important to us at Atlantic. Programmes and partnerships are part of the responsibility of the energy sector, as we help to contribute to the sustainable future of the country,” he said.