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IDB Country Rep: T&T has competitive advantage to become green hydrogen hub

by

#meta[ag-author]
20221130084238
20221130
Stuart Young, Minister of Energy, fifth from left, together with, Robert Le Hunte, left, IDB executive director; Dr Vernon Paltoo, president, National Energy; Farley Augustine, THA Chief Secretary; Pennelope Beckles, Planning and Development Minister; Carina Cockburn, IDB, country head, and Dr Joseph Khan, chairman, National Energy, display the Roadmap for a Green Hydrogen Economy during its launch at the Hilton Trinidad and Conference Centre, Lady Young Road, Port-of-Spain, yesterday.

Stuart Young, Minister of Energy, fifth from left, together with, Robert Le Hunte, left, IDB executive director; Dr Vernon Paltoo, president, National Energy; Farley Augustine, THA Chief Secretary; Pennelope Beckles, Planning and Development Minister; Carina Cockburn, IDB, country head, and Dr Joseph Khan, chairman, National Energy, display the Roadmap for a Green Hydrogen Economy during its launch at the Hilton Trinidad and Conference Centre, Lady Young Road, Port-of-Spain, yesterday.

Anisto Alves

GEISHA KOW­LESSAR-ALON­ZO

geisha.kow­lessar@guardian.co.tt

T&T can be a green hy­dro­gen hub in the re­gion as it is well poised, says Ca­ri­na Cock­burn, coun­try rep­re­sen­ta­tive for the In­ter­Amer­i­can De­vel­op­ment Bank (IDB).

The IDB col­lab­o­rat­ed with the Na­tion­al En­er­gy Cor­po­ra­tion of T&T on a green hy­dro­gen study and roadmap for this coun­try.

Speak­ing at the launch at the Hilton Ho­tel yes­ter­day, Cock­burn said while green hy­dro­gen is not a new prod­uct and elec­trol­y­sis is not a new process, green hy­dro­gen, how­ev­er, is be­com­ing cost ef­fec­tive to pro­duce as a re­sult of in­no­va­tions in the gen­er­a­tion of re­new­able en­er­gy.

In fact, over the last ten years there has been a de­cline in the cost of pro­duc­tion not on­ly for so­lar and on­shore wind gen­er­a­tion but al­so for off­shore wind as well, Cock­burn ex­plained.

Con­se­quent­ly, she added, a new port­fo­lio of en­er­gy prod­ucts is be­ing cre­at­ed in­clud­ing green hy­dro­gen, green am­mo­nia, green methanol and green ce­ment.

“T&T is well poised to take ad­van­tage of this trend. Us­ing the ex­ist­ing in­stalled ca­pac­i­ty, know-how and decades of ex­pe­ri­ence in the oil and gas in­dus­try, it is now an at­trac­tive propo­si­tion for T&T to ex­pand its prod­uct mix to in­clude com­pet­i­tive green prod­ucts which are in high de­mand,” Cock­burn said.

She added, the IDB has been mon­i­tor­ing how oth­er coun­tries are po­si­tion­ing them­selves to ben­e­fit from the green hy­dro­gen op­por­tu­ni­ty.

Ac­cord­ing to Cock­burn, some are lin­ing up to be green hy­dro­gen hubs—even though they aren’t pro­duc­ing yet, they are sig­nalling that they wish to play this role based on their ge­o­graph­ic lo­ca­tion or ex­ist­ing in­fra­struc­ture.

Oth­er coun­tries are plan­ning to be hy­dro­gen pow­er­hous­es.

“These are coun­tries which al­ready pro­duce re­new­able en­er­gy at very low cost and are seek­ing to be the price set­ters in the new mar­ket.

“And there are yet oth­ers, which have great re­new­able en­er­gy po­ten­tial, par­tic­u­lar­ly off­shore wind, and which have long ex­pe­ri­ence in the petro­chem­i­cal sec­tor,” Cock­burn added.

Ad­di­tion­al­ly, she said T&T has a com­par­a­tive ad­van­tage, not­ing that giv­en the size of the petro­chem­i­cal sec­tor it al­ready has rel­e­vant in­fra­struc­ture in place.

Fur­ther, T&T has es­tab­lished it­self over time as a trust­ed play­er in the in­ter­na­tion­al en­er­gy mar­ket and as a re­li­able sup­pli­er with a sol­id track record, she added.

“The coun­try can there­fore, lever­age its rep­u­ta­tion as a trust­ed fu­el ex­porter with decades of ex­pe­ri­ence,” Cock­burn said. Al­so, she said the study demon­strates the large po­ten­tial for re­new­able en­er­gy, in­clud­ing promis­ing off­shore op­por­tu­ni­ties. Like oth­er is­lands which face land con­straints, T&T has a great op­por­tu­ni­ty to har­ness the wind that blows at sea, in the same way in which it has har­nessed the hy­dro­car­bon re­sources off­shore over many years, Cock­burn ex­plained.

“There­fore, T&T is unique­ly po­si­tioned to main­tain its lead­er­ship po­si­tion as an in­no­va­tor in the en­er­gy sec­tor—with de­car­bonised and green­er fu­els based on off­shore wind this time around,” she added.

En­er­gy Min­is­ter Stu­art Young, who al­so spoke, said this coun­try must move quick­er to im­ple­ment its green hy­dro­gen econ­o­my. “We have in­ter­na­tion­al ship­ping of re­new­ables and Sin­ga­pore has that. They have done it ef­fi­cient­ly, Sin­ga­pore is a hub, but we have the rest of the val­ue chain here and that is the mes­sage.

“The Gov­ern­ment is about to an­nounce mas­sive so­lar and wind projects,” Young said.


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