Opposition MP and former Prime Minister Stuart Young says while he hopes Grenada has significant hydrocarbon resources he advises caution about the new Government's plan to acquire a supply of natural gas from Grenada to this country.
Mr. Young spoke during a media conference at the PNM's Baliser House headquarters in Port of Spain.
00:00That is the reality, Trinidad and Tobago. Any gas from Guyana or Suriname to Trinidad and Tobago has to pass through the territorial waters of Venezuela. So Venezuela remains in the equation.
00:15Opposition MP and former Prime Minister Stuart Young on Monday, responding to Prime Minister Kamala Posada's declaration on Saturday that the new government will be moving away from the former PNM administration's efforts to acquire the supply of natural gas to Trinidad and Tobago from Venezuela, including its dragon field.
00:35My Minister of Energy has been mandated from day one to explore the offer being made by Guyana to bring gas to Trinidad and Tobago. Suriname is also energy producing. Again, we can partner with them. But I have a surprise for you. I intend to send my Minister of Energy to Grenada because I'm being told that Grenada offshore has more gas and oil than the dragon field.
01:03The Energy Chamber said in a statement that a gas partnership between Grenada and Trinidad and Tobago presents an exciting opportunity.
01:12Signed an MOU with Grenada with respect to hydrocarbons, an energy sector development framework agreement in 2012.
01:20But in 2018, the NGC went and signed a commercial arrangement with a company called Global Petroleum Group, which was, I believe, a Russian-based company.
01:33So at this stage, I would just caution about this concept. Whilst I hope that there are significant hydrocarbon resources, the fact that since 2018 to now, there has been no progress on this and that there are no proven reserves with one well-being drill certainly, certainly means that it is very, very far from any commercialization.
01:59Because first of all, there are no proven reserves at this stage.
02:03Mr. Young said this quote certainly means that it is very, very far from any commercialization, end quote.
02:11Prime Minister Prasad-Bissessa made her new administration's position clear whether the drug and gas deal is concerned.
02:18It is dead. They kept it alive for 10 years.
02:22And if you could do that in 10 years, you're not going to do it now.
02:25Prime Minister Prasad-Bissessa told the media on Saturday that the drug and gas was not discussed during her phone call with U.S. Secretary of State Marco Rubio on Friday.
02:35We talked about the energy sector, but the drug and gas is dead.
02:40You won't pursue that at all in terms of, of course, water and gas?
02:44Not at this point in time. Who knows in the fullness of time all things are possible.
02:49But at this point in time, I'm looking at the cargo. I'm definitely looking at our own cousins, brothers and sisters in the cargo.
02:57Senior Consul Young served as the Minister of Energy during the PNM-led government and the former Prime Minister, Dr. Keith Rowley,
03:03which had pursued the deals for the supply of natural gas from Venezuela.
03:07Why immediately, before you've even sat down and looked at a single piece of paper, including a 30-year license with Venezuela, say no?
03:18And this is a sting in the tail.
03:21Dragon gas is proven gas reserves that all it requires is 18 kilometers of pipeline to our closest infrastructure.
03:31We had begun to work with Shell through NGC.
03:33The U.S. government, led by former President Joe Biden, granted waivers of certain sanctions against Venezuela to Trinidad and Tobago.
03:42Before the UNC won the general election last week, those special licenses were revoked by the Trump administration.
Be the first to comment