With just one more day to October 29, 2016 and the joyous, religious and spiritual observance of Divali, there is tremendous excitement and anticipation.
You are here
T&T, Haiti sign US$30m energy deal
Haiti is to benefit from a US$30 million investment by National Petroleum Marketing Company. This follows the signing of a memorandum of understanding between T&T and Haiti at the Hilton Trinidad yesterday for co-operation inu energy, energy security and energy exploration. Prime Minister Kamla Persad Bissessar said that the accord, which had been discussed over the past two years, represents a significant contribution to the development of a “fellow Caricom partner” still emerging from the effects of a powerful earthquake that killed an estimated 300,000 people and left more than a million others homeless in 2010. “We are very happy that you will be sourcing our energy products rather than outside of the region,” she said noting that the agreement will help the energy companies continue to provide employment for locals in the energy sector. “By selling these products to you, you will continue to help us generate revenue to continue the employment of citizens of Trinidad and Tobago and at the same time with our products coming into your country, duty free, it means your citizens will benefit as well.”
T&T will sell lubricants, diesel for vehicles, liquefied petroleum gas (LPG) among other products. Haiti’s President Michel Martelly said he was pleased in “getting your products at a better price”. He said the agreement will also serve to “strengthen our relationship. “We have been brothers and sisters for a long time, but I think a complete project like this one was missing between our countries. NP is expected to open several distribution stations in Haiti as a result of the agreement.
NP chairman Neil Gosine said the plan was for the energy company to brand nine service stations in Haiti within the next few months to sell LPG and other products, including lubricants. He said a facility will be set up for bunkering and fuel storagey. State owned Petrotrin and National Energy (formerly National Energy Corporation) will also be involved in the project, Gosine added. Petrotrin Chairman Lindsay Gillette said his company was working closely with NP on the project and the first cargo should leave for Haiti in the next “couple of months.” Energy Minister Kevin Ramnarine said National Energy is working with the Haitian Government to establish a port project.