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PM: Trinidad Awaits Ghana on Oil Deal

  • SOURCE: | qwesa2big
  • The Prime Minister of Trinidad and Tobago, Mrs. Kamla Persad Bissessar, disclosed on Wednesday that her country has entered into an agreement, which, if approved by the Ghana government, will see, the National Gas Company of Trinidad & Tobago being Ghana’s major partner in the production of natural gas from the Jubilee Fields for generating electricity.

    The Caribbean nation depends 100 percent on natural gas for its entire energy needs of some 1,500 megawatts.

    She made this known at the media launch of the UN International Year for People of African Descent, at the Hilton Hotel, Port of Spain, Trindad.

    The event was addressed by Awulae Attibrukusu III, the Vice President of the National House of Chiefs and a member of the board of the Ghana National Petroleum Corporation, who stressed on the growing cooperation between the two countries.

    The Paramount Chief of Nzema West is part of a 21-member delegation from Ghana, led by Deputy Minister of Energy and MP for Ellembele, Kofi Armah Buah.

    The delegation includes the other two paramount chiefs of Nzema, Catherine Afeku, MP for Evalue Gwira, and the Municipal Chief Executive of Nzema East, and the District Chief Executives of Jomoro District Assembly and Ellembele District Assembly.

    The team is on a six-day trip to Trinidad & Tobago as part of partnership arrangement between the local people of Nzema and the Caribbean Atlantic Financial Holdings to undertake a multi-billion dollar gas-fed industrial estate and energy city project on a 2,000 acre land in Nzema, Western Region.

    Mrs Bissessar said, “My government has approved in principle a very strong cooperation between our two countries on the exploitation of Ghana’s natural gas. We have now the expertise and knowledge and Ghana has acknowledged that. We hope that Ghana will approve of our proposal.”

    She described that as very much in tune with her vision of greater south-south cooperation among members of the Commonwealth, which includes several African and Caribbean nations.

    Trinidad & Tobago, which discovered oil 100 years ago, is the world’s leading producer of ammonia, urea and methanol from natural gas.

    Much of Ghana’s Petroleum Revenue Management Bill and the Local Content Policy was modeled on Trinidad.

    Later on, the Prime Minister answered questions from the media on Ghana’s oil and gas business.

    She said, it would be the first time that her country has had the opportunity to go out of the island to share its experience and expertise for the benefit of another producer country. She expressed hope that the partnership will be of immense mutual benefit for the two nations.

    Trinidad and Tobago is famous for its strong local content in oil and gas.

    On Tuesday, the Ghanaian delegation visited the $3 billion Point LisasIndustrial Estate, which houses the world’s biggest ammonia plant and hosts 103 industries connected to gas feedstock. All 103 companies, employing up to 18,000 people are managed by locals.

    Nigel Salina, the CEO of CAF Holdings said the group is seeking to replicate the Point Lisas industrial estate in Ghana but on a larger scale, since Ghana has more gas than his country.

    The delegation also met Andrew Macintosh, the President of the National Gas Company and Eugene Tieh, CEO of Phoenix Park Gas Processors Limited and other companies that are interested in the Ghana gas project.

    Deputy Energy Minister Kofi Buah said the Ghana Government was excited about the partnership with Trinidad and Tobago and that the nation was open to business in President Mills’ determination to ensure that the petroleum find benefits the Ghanaian people.

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