ALNG strike not affecting TT

EVEN as the strike at the ALNG Train Four construction site rolled into its seventh week yesterday, the United States and British governments and the US Central Intelligence Agency (CIA) said Trinidad and Tobago remains a model for social, political and economic stability in the region. In its report yesterday, the British and Foreign Commonwealth Office stated: “The UK’s trade relations with TT are good.” The Commonwealth Office noted that natural gas is the fuel underpinning this country’s “world-class capacity in LNG methanol and ammonia” with British Petroleum and British Gas being two major investors and operators in TT’s energy sector and notwithstanding the current problems at ALNG Train Four, “the energy sector is set to expand in 2003-2004 with growth in production and exports, steady rise in oil production and Foreign Direct Investment in the expansion of the ALNG facility.” 

“With new operational facilities shoring up export capacity and new investment supporting construction activity, real GDP growth is expected to jump to an annual average of 4.3 percent in 2003-2004. Whilst oil and gas keep the economy strong, the Government is aware of its high dependence on earnings from the energy sector and are encouraging diversification into the agricultural, tourism and light industry sectors.” For its part, the CIA said TT’s “reputation as an excellent investment site for international businesses” remains intact despite the situation at ALNG Train Four.