Curits Williams
curtis.williams@guardian.co.tt
Prime Minister Dr Keith Rowley yesterday told the annual T&T Energy Conference that while this country is obligated to the transition away from fossil fuels, it remains committed to the development of its energy sector and the maximisation of returns from it.
Rowley said energy transition meant different things to different countries and for T&T, it was about ensuring in the transition process there was both energy and economic security.
“We remain committed to the development and the maximisation of our natural resources, which will continue to provide revenue stream to our country in the short to medium term. This revenue stream is critical, not only for the well being of our citizens but may also serve as a supplementary source of funding for some of the very projects required to meet our target,” the Prime Minister told the conference.
He added, “As a Government, we will seek to implement our changes in a way that does not cause undue economic distress to our population.”
This year’s conference is being held virtually and is focused on energy transition, as the world moves to reduce its dependence on fossil fuel and get to net-zero carbon emissions by 2050.
Rowley posited that natural gas, which is the cleanest burning of the fossil fuel, had a crucial role in the global energy transition, with its share of the energy mix expected to grow. He explained, “The Government of T&T recognises the important role that natural gas has to play in the energy transition in both a local and global context. Furthermore, our natural gas is partly enabling the energy transition by providing clean fuel for other countries and there is an opportunity for natural gas to play a greater role in the Caribbean’s energy transition.”
Rowley said Government is cognisant that more needs to be done reduce the carbon footprint in the energy sector and he pointed to several projects to do so.
He noted that the State-owned National Gas Company had embarked on a project to reduce methane emissions, that Heritage Petroleum, in conjunction with the University of the West Indies and University of T&T and the Ministry of Energy and Energy Industries, are working on a project to capture carbon and use it to increase crude production and he also pointed to efforts to create a world scale hydrogen plant.
The Prime Minister also encouraged the development of LNG in the region, with this country supplying small scale LNG in the Caribbean.