00:00 Mark Lukwan, the president of the state-owned National Gas Company of Trinidad and Tobago,
00:05 or NGC, sought to put the global call for the transition to greener sources of energy
00:10 into a context regarding the economic importance of products derived from natural gas during
00:16 his presentation at the launch of the Caribbean Climate Investment Program, or CCIP, under
00:22 the theme "Energy and Climate Financing for Trinidad and Tobago."
00:26 How large do you think Trinidad's production of ammonia in the world trade is?
00:33 One percent?
00:35 Five?
00:36 Ten?
00:37 Well, the answer is about 25-20 percent.
00:43 That's pretty high.
00:44 And we're not even utilizing all our assets at full rates.
00:49 So in accordance with the world trade, we are helping to feed the world with natural
00:54 gas.
00:55 Mr. Lukwan also highlighted the pace at which renewable sources of energy are being implemented
01:00 across the world.
01:01 Why, then, is the renewables not five times faster, ten times faster?
01:08 And the answer is it takes money.
01:11 Two, countries have other things to think about, like education and poverty and so on.
01:18 Three, the technology doesn't exist for that size.
01:24 Because if you were to kind of scale up batteries and all of these things, that just doesn't
01:28 exist yet.
01:29 Not to mention the essential minerals issues, like lithium and cobalt and so on, which I'm
01:35 not even going to talk about.
01:37 While the global movement for a transition away from products derived from crude oil
01:41 and natural gas continues to grow, Mr. Lukwan said moving from that system to one involving
01:46 the widespread production of electric vehicles, decarbonization, hydrogen, or carbon capture
01:53 could take decades.
01:55 Okay?
01:56 So, this is not going to be solved by next year.
02:00 In which case, the gas, which is the cleanest fossil fuel, transportable, can be compressed,
02:07 can go from any side of the world to the next, is needed.
02:12 And the faster that everybody also gets that, that would be good.
02:18 Jule Brown, TV6 News.
02:20 Thanks.
02:20 [end]
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