T&T
considers selling gas to Mexico
By
Roxanne
Stapleton
Trinidad
Express
Port
Spain
Petroleumworld.com
09 10 06
A DRAFT energy-related Memorandum of Understanding
between Trinidad and Tobago and Mexico was recently
taken to Cabinet, on the return of Energy Minister
Dr Lenny Saith from Mexico.
And the MOU is currently before
the Attorney General, John Jeremie for vetting,
Saith said yesterday.
The Minister's revelation came only
one day after Prime Minister Patrick Manning blasted
the US Government for "studiously ignoring"
the requirements of Trinidad and Tobago and the
Caribbean, hinting also that his Cabinet was considering
whether placing "all our eggs in one basket"
was wise.
"Now too much of our LNG goes
to one destination and incidentally at prices that
are not by any means the best prices that are available
in the market," Manning said.
"If Trinidad and Tobago decides
to sell into the Mexican market, we will start with
a price of Henry Hub plus 30 cents... at the moment
when we export to the US, the only terminal that
gives us a price like that is the terminal in Everett
which is in Boston-where we get Henry Hub plus 35
cents," Manning noted.
Of the draft MOU, a coy Saith said
it would establish a general framework to govern
the areas of co-operation between both Governments
on energy issues.
"Co-operation under the MOU
might include discussions and exchange of information
and best practices, exchange of experts, design
and implementation of studies and so on.
"Further details as to the
contents of the MOU will be given at the time of
signing."
Speaking at a media briefing hosted
by his Ministry, to inform journalists of "ongoing
developments in the energy sector", Saith also
announced that a revised natural gas reserve audit
is to commence soon (between September and October
2006).
Saith will travel to Qatar next
week for the Gas Exporting Countries Forum, which
is currently being chaired by Trinidad and Tobago.
Trinidad Express
Wednesday, September 6th 2006
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