PM Manning opens energy conference today

PRIME MINISTER Patrick Manning will open what may arguably be the most important Trinidad and Tobago Petroleum Conference (TTPC) in the nation’s recent history at the Hilton Trinidad at 9 am. Though the TTPC has come to be known as “the major energy conference in Latin America and the Caribbean,” this year’s Conference takes on additional significance in the context of the Prime Minister’s discussions in December with energy companies British Petroleum, British Gas and Repsol YPF and United States President George W Bush and senior members of his administration. Manning’s discussions with the three European energy companies has resulted in commitments from all three to increase their levels of involvement in the local energy sector, with Repsol giving an additional pledge to assist in the development of certain aspects of the new University of TT. 

In his talks with Bush and other senior US Government officials, TT’s energy security was discussed at length.  TT currently supplies 68 percent of all LNG imported into the US and is the only nation which supplies LNG to all four regasification terminals on the American Eastern Seaboard. Following private discussions with Assistant Secretary in the US Department of Energy, Vicki Bailey, the Prime Minister disclosed that plans were underway for a summit of the energy ministers of all of the Western Hemisphere in Port-of-Spain in either April and May. Today’s  Prior to Manning’s talks with Bush Administration officials, Energy Minister Eric Williams spoke at a series of energy conferences in the US and met with companies who expressed interests in becoming involved in the local energy sector.

The 2004 TTPC will also update delegates on other critical issues such as the development of cross-border, natural gas development opportunities between TT and Venezuela. Both governments signed a Memorandum of Understanding to that effect last August, following a dinner meeting between Manning and Venezuelan President Hugo Chavez in Port-of-Spain earlier in that month.  Transparency and accountability will feature prominently at the two-day TTPC and this was alluded to by Minister in the Ministry of Finance, Christine Sahadeo, when she spoke in the Senate last Thursday.