Shell to invest $billions in TT

After the tour, Rowley met Maarten Wetselaar, Shell’s Director for Integrated Gas and New Energies; De La Rey Venter, Executive Vice President Integrated Gas and Derek Hudson, Vice President - TT. During the meeting Rowley received a presentation on Shell’s Strategic Vision for their business in TT. At this meeting, Rowley secured a commitment from Shell for continued investment in this country.

Shell also updated Rowley and Young on the status of a number of initiatives which are at various stages of the developmental and project life cycle, reaffirming its role as a major player in the local energy industry. It was noted that Shell and the Government are aligned on plans for bringing cross-border gas from Venezuela into the TT market to meet strong demand in the petrochemical sector. Rowley mentioned the critical role Shell will play in this initiative, at a post-Cabinet news conference at the Diplomatic Centre in St Ann’s on March 16.

He expressed his confidence in Shell’s ability to successfully execute its expansion and requested that Shell place greater emphasis on hiring and training local qualified personnel as it is important to strike the right balance between local and expatriate employment.

He assured Shell that his Government will do what is necessary within the laws of TT to provide accelerated approvals for its work program. One of the programs which was the subject of detailed discussions and agreement was the Starfish project which is to be the subject of new developmental objectives commencing in the next quarter of 2017.

Shell has a long history of operation in TT. In 2016, the company re-entered the local market with its acquisition of the BG Group.

This signifies the company’s confidence in the opportunities available in our energy industry.

The company said it is excited to play a leading role in unlocking Trinidad and Tobago’s future oil and gas potential and building a stronger competitive position in the country.

Yesterday, Rowley held separate meetings with EOG Resources and Exxon Mobil in Houston.

On March 16, Rowley said the conversations with Exxon Mobil were important in terms of what is happening in Guyana’s emerging energy sector and how this country can partner with its Caricom neighbour in that sector.