Trinidad and Tobago Energy Minister Stuart Young called on the region to take hold of its destiny and responsibly manage its own energy resources at the Guyana Energy Conference and Supply Chain Expo in Georgetown, Guyana.

“We are sophisticated enough, we are intelligent enough, and it is time we are confident enough to really direct our decision making,” he said.

He made the statement on February 20 at the opening of the second day of the four-day conference.

Young added his voice to the call for greater collaboration among Caribbean states regarding the exploitation and production of energy resources.

He offered Trinidad and Tobago’s infrastructure and experience in the oil and gas sector as a beneficial factor to foster greater collaboration.

“Consider this, a country that has just found new oil and gas resources and is faced with the dilemma of how to allow the exploitation of those reserves. It will take a while to be able to monetise those gas reserves – you have to bring it to shore, you have to create an industry onshore. Those things cost billions of US dollars. How long would it take the people who own those resources to get the returns of the revenue from it? Wouldn’t you have to offer tax holidays, moratoria and incentives? Wouldn’t you then have to put down the infrastructure to ship it out?

“As opposed to this – right there in Trinidad and Tobago there is the existing plug-in, you can send your gas resources and you will get your returns immediately. You can then use that on infrastructure for the people as a return for the people of your respective countries.”

He added that with the restructuring of Atlantic LNG and various deals with international oil and gas companies, Trinidad and Tobago has the knowledge to negotiate deals for the benefit of the region.

“Our ability to sit down right across the aisle and share with those now entering into the negotiations should not be underestimated,” he said.

Young said greater collaboration would mean a better voice when dealing with international stakeholders.

“We hold the opportunity to influence the energy security conversation being held around the world,” he said.

On February 19, both the Trinidad and Tobago Prime Minister and President of Guyana made calls for collaboration among Caribbean states in energy.

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