Minister of Energy Stuart Young yesterday met with Albert Ramdin, Suriname’s Minister of Foreign Affairs, International Business and International Cooperation in Paramaribo to discuss issues surrounding regional energy security.
Young is currently in Suriname for its energy, oil and gas summit and exhibition, 2023 which ends on Wednesday.
In a news release yesterday, Young said, “We discussed the potential of regional integration and in particular the role that we could play along with other Caricom member states in providing regional and extra regional energy security.
“We are committed to working along with Guyana and other regional hydrocarbon-resourced countries to ensure sustainable energy security for the region.”
Young added that he is looking forward to participating with Ramdin and Robert Persaud, Foreign Secretary, Ministry of Foreign Affairs and International Cooperation of Guyana in a ministerial roundtable on “Strategic Regional Cooperation: Challenges and Benefits” to be held today.
In a speech in Miami earlier this month, Young explained that the T&T Government’s negotiation with the US administration to persuade it to allow the exploitation of the Dragon field in Venezuelan waters is an attempt to further regional energy security.
Young told the Miami conference that he and Prime Minister Dr Keith Rowley spent significant time and energy last year meeting with decision makers in Washington DC, negotiating and advocating for the grant of a waiver from Office of Foreign Assets Control (OFAC) for T&T to produce the Dragon gas field with Shell as our partner.
“With the support of other leaders of the Caribbean Community (Caricom), we pursued the ability to access this gas field as there is the immediate excess capacity in Trinidad for us to produce additional LNG, Ammonia and fertiliser products and methanol once we can produce the gas field, thereby contributing to energy security in the Caricom and wider region.
“We would be able to provide additional LNG supplies to Caricom countries and even Europe as it looks for alternatives to Russian gas.”
Meanwhile, the T&T Manufacturers’ Association (TTMA) and exporTT are also in Suriname to strengthen trade relations.
The TTMA said its trade mission is geared towards determining business opportunities within the Suriname market for local companies and establishing and deepening strategic business and logistical relationships between manufactures and buyers.
It added this is a key project under the Government’s export booster initiative, which is key in increasing the value of all non-energy exports over the next three years.
The mission comprised 20 companies from the chemicals, printing and packaging, food and beverage, garments and construction sectors including Blue Waters, DSB Lid, Lazuri Apparel Ltd, VF Packaging Ltd, MIC, Pepe’s Marketing and Christle Ltd among others.