bpTT’s Christie hopes for new Gas Master Plan

“The current Gas Master Plan deliberations must result in clear policy decisions regarding matters such as gas allocation and price, and must incentivise upstream investments in an increasingly competitive environment...

No sensible business person, recognising the context we are in, is going to invest approximately US $5 billion over the next three to four years into natural gas projects without knowing where the gas is going to go and under what pricing mechanism,” Christie stated.

“We at bpTT have always said that it is not a matter of whether or not the hydrocarbon resources are here in Trinidad but rather it is matter of how industry and Government continue to work together to create an enabling environment to efficiently monetise those resources with fair returns for all stakeholders.” Christie warned that “failure to bring clarity to these matters quickly will result in a sharp decline in investments, which will lead to a repeat of the circumstances that have materially contributed to the natural gas supply and demand imbalance that we are currently experiencing; only it will be worse.” “Of course, these are outcomes we do not want and that is why bpTT has worked hard and against significant odds to develop the Juniper and onshore compression projects, which will start production in 2017.”