Despite what seems like a bleak outlook, Energy Minister Conrad Enill remains confident that T&T’s energy sector will attract investors. Speaking to the Sunday Guardian on Friday, he said, “We had companies that already signed contracts for exploration activities during the course of the year. Companies like Centrica, Voyager, Bayfield.”
Asked if these contracts were still valid, he replied, “Yes.”
What about those investors who pulled out? “Those who pulled out, like Mittal, went to other jurisdictions because we weren’t ready as yet,” Enill said. Asked about the length of time it will take to award a contract and drill for gas, the Energy Minister said, “Let me put it this way, companies producing gas have contractual obligations as it relates to the supply of gas.
“Talking about gas running out is like talking about shutting the industry down. “The only way the industry can continue to survive is with activity. “Multi-nationals have invested millions in equipment and they have to go out and explore. “Both BGTT and bpTT are looking at exploring fields.” Enill promised that the Government will make the petroleum fiscal regime as competitive as it can and, at the same time, seek to get the best benefit for the people of T&T.
