00:00Energy consultant Javid Razak says things are moving in a positive direction.
00:06He tells the Morning Edition some of the country's emerging deepwater opportunities are encouraging,
00:12including BP's move to take full ownership of a major deepwater field.
00:17But, he says, production is still years away.
00:22It's a good sign. It means that BP should be moving forward with this.
00:26Of course, moving forward, when you talk about counting chickens before they hatch,
00:30you're talking about six, seven years before it probably gets to make an impact to have an actual gas production.
00:37This will be the first deepwater development that we have, hopefully.
00:41He expects the Loran gas field to begin delivering benefits from 2027,
00:47with its scale potentially supporting renewed activity, other facilities affected by gas shortages.
00:53Razak says the real sage could come from 2028 through the 2030s, as several projects move forward.
01:01So, you'll see in 2028 and 2029 a lot of additional gas coming in.
01:06It means that 2027 is still probably going to be a bit slow, right?
01:11And then 2028 and 2029 and 2030, you're going to see the full impacts of those things.
01:16And as the deepwater project moves ahead, you know what we were talking about,
01:19in the early 2030s, you'll have a lot of gas coming in from there.
01:22However, he says, the bigger question is what the country actually gains from the gas wealth,
01:29with more than 15 trillion cubic feet of potential supply across several major projects.
01:36Nowadays, Venezuela and other projects is that they're all going to be quite different.
01:40So, yes, the benefit to the government in terms of taxation and NGC and all these things is unknown to
01:47a lot of persons.
01:48We are happy to see the projects going forward.
01:50So, some percentage of something is better than nothing, right?
01:56And I've been of the opinion, not only people, but I feel like Calypso,
02:00even if the government had to take a very small tax take to make the project work,
02:05they should do it because those projects bring a lot of spin-off benefits in terms of activity in the
02:10economy.
02:10Nicole M. Romany, TV6 News.
