PORT OF SPAIN – Foreign Affairs Minister Knowlson W. Gift said Trinidad and Tobago can honor its contracts to supply Liquefied Natural Gas (LNG) and crude oil to Regional and International consumers.
The Minister made the statement during the recently concluded Fifth U.K./Caribbean Forum of Foreign Ministers, in Bridgetown, Barbados, which addressed the theme of “Partnerships for promoting and sustaining Caribbean development; strategies for the medium and long-term”.
Minister Knowlson W. Gift
The Meeting is a principal vehicle for dialogue between Britain and the Caribbean region and provides an opportunity for discussion on issues of common concern, and to set goals for future co-operation.
Minister Gift noted that on the basis of our gas to crude conversion formula, the equivalent daily output of both products is in the vicinity of 800 thousand barrels of crude oil. As CARICOM’s largest energy exporter, this places the country in a position to provide long-term energy security to the Region.
He said exploration was taking place and new reservoirs have been identified. This, he said, has led to the signing of various bilateral and wider regional level agreements. In fact, during the visit by Jamaica’s Prime Minister, Portia Simpson-Miller to Trinidad and Tobago, an agreement was signed for Trinidad and Tobago to provide Jamaica with a long-term natural gas supply.
Other issues discussed at the Forum included security, trade, the CARICOM Single Market and Economy (CSME), tourism, and health and HIV/AIDS.
CARICOM will continue toward the full implementation of the Single Economy by 2008; identify what assistance to be provided in the planning and preparation for Cricket World Cup (CWC) 2007 and; to continue to implement policies that contribute to disaster risk reduction, and mitigate the impact of natural disasters in the region.
The U.K. committed to helping Caribbean countries share in the benefits of international trade and investment. To this end the U.K. will organize a Caribbean investment event in London and will also support a number of business visits to the region during financial year 2006/2007. The U.K has also committed to support the Caribbean’s efforts at reducing poverty and vulnerability to shocks and natural disasters, and to continue to support the setting up of a Caribbean Regional Tourism Investment Fund.
