Two weeks ago, Trinidad’s Prime Minister, Dr Keith Rowley, delivered a major speech. It sought to define the future trajectory of his country’s energy policy. Speaking at the conference, ‘Shaping the Caribbean’s Energy Future’, he indicated why over the next 10 years, the way the world thinks about the Caribbean may change.
Much of what was reported focussed on Trinidad no longer being able to jointly develop with Venezuela its cross-border oil and gas fields because of US sanctions. However, of greater long-term significance were the views expressed on the region’s economic future as a producer of oil and gas, and the central regional energy-related role Dr Rowley envisages for Trinidad.
Recent oil and gas finds, particularly in Guyana, he noted, were radically changing the perception of the region. “With justification the Caribbean is “being heralded as the next major oil and gas province”. This had generated unprecedented interest from the world’s largest oil companies, auguring well for capital and technology transfer to the region, he said.
