PRIME Minister Dr Keith Rowley says that T&T still has considerable resources in the ground to be utilised, and it is imperative that we continue to develop these resources or face their sterilisation.
In delivering the feature address at the annual Energy Conference yesterday, Rowley observed that natural gas will remain a transition fuel.
“Our natural gas is partly enabling the energy transition by providing clean fuel for other countries, and there is an opportunity for natural gas to play a greater role in the Caribbean’s energy transition,” he said.
He said the Government is cognizant that there is more to be done within the natural gas industry to reduce the associated emissions and to increase the sustainability of the industry.
“We will endeavour to work with all stakeholders, both public and private, to design the appropriate solutions for issues such as the decarbonisation of our natural gas and the greater inclusion of renewables in our local energy mix. Any future inclusion of renewables must be well-timed to ensure that our citizens are not unduly burdened by the cost of excess generation capacity,” he said.
He said the Government remains committed to achieving the sustainability targets.
“We are acutely aware of our vulnerability as a Small Island Developing State, and the potential for adverse effects on our economy and our people if we fail to take the necessary steps. We hope to meet and exceed those targets, for the well-being of our citizens, both current and future generations.
“Secondly, as we work towards achieving these targets and realising our ambitions, a main tenet of any strategy that we adopt or measures that we take is that providing stability to our citizens is of paramount importance. While we will make every effort to secure a sustainable future for the generations that follow, it is a balancing act. Some behavioural change will be expected of the citizenry who will play their part by using energy more efficiently and adopting energy conservation practices.
“As a Government, we will seek to implement our changes in a way that does not cause undue economic distress to our populace.
“Thirdly, the Government of Trinidad and Tobago recognises the important role that natural gas has to play in the energy transition, in both a local and global context. We remain committed to the development and the maximisation of the value of our natural resources, which will continue to provide a revenue stream to our country in the short- to medium-term. This revenue stream is critical, not only for the well-being of our citizens, but may also serve as a supplementary source of funding for some of the very projects required to meet our targets,” he said.