Manning
denies gas prices going 'dog cheap'
By Juhel Browne
Trinidad Express
Port
Spain
Petroleumworldtt.com
12 10 06
Alcoa
and Alutrint are not getting the natural gas needed
for the operations of their proposed aluminium smelters
at "dog cheap prices", says Prime Minister
Patrick Manning.
However,
Manning says the Government could not disclose the
price now being negotiated by the National Gas Company
and the two aluminium plant investors, since this
would discourage future major investments in the
local industrial sector.
Manning
did so in response to questions on the issue raised
by Opposition MP Chandresh Sharma during yesterday's
sitting of the House of Representatives at the Red
House, Port of Spain.
Sharma
had been contributing to the debate on the Heritage
and Stabilisation Fund Bill No 2, meant to set up
the legal framework for the financial mechanism
that is to replace the Interim Revenue and Stabilisation
Fund, which now stands at some $8 billion worth
of oil and gas revenues,
Sharma
said the population wants to know the natural gas
prices being negotiated for the proposed smelters,
and referred to statements made by Energy Minister
Dr Lenny Saith during Thursday's post-Cabinet news
conference at Whitehall.
"We
have been told and the Minster of Energy, I saw
in the newscast after a press conference, indicated
that the investors will not come here if they are
not certain that gas will be available for a long
period. Is it to say that the investors are coming
here because they are getting the natural gas at
dog cheap prices?" Sharma said.
"That
is not true," Manning said.
Sharma
gave way to Manning as he asked the Prime Minister
to disclose the natural gas prices being negotiated
for the smelters.
"The
price at which gas is sold to these companies is
a commercial transaction that normally is kept confidential
and the minute the Government of Trinidad and Tobago
exposes, either by force or by any other reason,
the gas price immediate, companies that under normal
circumstances would come to Trinidad and Tobago
to operate will now have to take that into consideration,"
Manning said.
He
said that this is because such transactions are
of great value to their competition and urged the
Opposition MPs to be more judicious and understand
that negotiating system.
"You
could make it public if you want, but you know what
is going to happen? The investors will just go elsewhere
because the Government of Trinidad and Tobago is
not confidential," Manning said.
Saith
is scheduled to answer Opposition questions on the
smelters' proposed natural gas price during Tuesday's
sitting of the Senate at the Red House.
Trinidad
Express
Saturday, December 9th 2006
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