Call
for gas pricing review in Trinidad
Caribbean Net News
PORT SPAIN
Petroleumworldtt.com
05 20 07
Congress of the People
deputy political leader, Carolyn Seepersad-Bachan
has called for the government of Trinidad and Tobago
to immediately halt all energy related projects
for a full review of gas pricing and gas utilisation
to be carried out.
Seepersad-Bachan was at the time addressing a
political meeting in the constituency of San Juan/Barataria.
"I
call on Mr Manning to halt all projects in the
energy sector until there is a proper review
of gas pricing and gas utilization that will maximize
the benefits of the people of Trinidad and Tobago."
The former chairman of the National Petroleum
Marketing Company Limited then waded into the Government's
energy development strategies and accused the Prime
Minister and Energy Minister of misrepresenting
their performance in development of the oil and
gas sector.
Saying
that Patrick Manning's record has been 'running
the energy sector by vaps', Seepersad-Bachan
said: "Fifteen companies contributed to the
seismic studies for exploration blocs, and for
only one company to submit a bid is a clear indication
that the Government strategy for attracting exploration
companies has failed."
"During
1995 to 2000 there were 15 bidding rounds for
exploration of offshore blocs, and they
were all well subscribed with three to four bidders
in each round."
"In
just under five years, the proven gas reserve
position moved from 6.8tcf to 22tcf, and
they mention a proven reserve of 18tcf. But in
a Government advertisement, they go on to talk
about gas reserves and said the NGC completed negotiations
with BHP Billington, EOG Resources and British
Gas for the supply of 560 million standard cubic
feet beginning 2009 to meet their project commitments."
She
said: "This is misleading because this
serves to create the impression that there was
new gas found to meet existing project commitments.
This was gas that was already found to become part
of our proven reserves. This is part of the 18tcf."
"This
was not as a result of exploration, this was
as a result of what we call development
drilling. In fact, these contracts are just a drawdown
of existing proven reserves. Mr Manning's Government
has failed to find a drop of oil or a cubic foot
of gas over the last six years. But they continue
to spend it!"
Warning
that 'there was no quick gas solution', the former
Senator said: "Mr Manning continues
to predicate the further industrialisation of Trinidad
and Tobago on the farfetched notion that Venezuelan
gas will be monitised in Trinidad and Tobago in
the very near future."
"I
hope Mr Manning learned from the snub he received
from the first Hemispheric Gas Conference.
I can give you the assurance that Venezuelan gas
will not be monitised in Trinidad and Tobago during
the life time of many of us here in this room tonight."
Also speaking at the meeting were COP founding
members, Dr Sharon Gopaul-McNicol and Dr Lena Brereton
Wolffe, broadcaster Inshan Ishmael, COP executive
Jamal Mohammed and COP leader, Winston Dookeran.
The COP's San Juan/Barataria constituency chairman,
Earl Cunningham chaired the meeting.
Caribbean
Net News
21th May, 2007
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