00:00According to the former Minister of Energy and Energy Industries, Conrad Enil, with BP, XRG and UCC Holding now joining
00:09the project,
00:10the agreements are expected to unlock significant Venezuelan gas supplies for processing in Trinidad and Tobago,
00:18strengthening the potential for investment, energy security and economic growth in both countries.
00:24He tells the Morning Edition, the signing of Phase 2 of the Loran gas field license marks a critical step
00:32in the right direction.
00:34That is significant because to the extent that we get it right, and I think we can get it right,
00:40it means that it would be a global model of participation for neighboring societies where the interest of the people
00:52comes first.
00:53Enil, who also served as Foreign Affairs Minister and chaired at the National Gas Company, says Trinidad and Tobago must
01:02remain strategically positioned throughout the negotiations and ensure its interests are firmly represented.
01:09It's very important that the energy sector is managed in such a way that we don't leave, as some of
01:16my business friends would say, money on the table.
01:18And in order to do that, there are certain places that we need to be.
01:23We need to be at the table when the negotiations are going on so that we don't give up too
01:29much.
01:30And as government continues to look beyond energy, the former NGC chairman says diversification requires more than just announcements with
01:41a multi-pronged approach.
01:42I have always, you know, been amazed at the discussion on diversification because it's a one-sided discussion.
01:50The reality is that it is not only about diversification, it is about financial discipline.
01:57Because the reality is that if you are increasing the revenues by 35% on an ongoing basis, when you
02:06have a product that gives you a gross margin of 55%,
02:12where are you going to be able to get products and services to meet a growing expenditure at the rate
02:20that you are growing it?
02:21Nicole M. Romany, TV6 News.
Comments