Energy Minister, Stuart Young has chastised naysayers for ‘watering down’ efforts that Government continues to make in the energy sector.
And he said the Energy Ministry will continue to ‘press on’ with its bid round programmes to optimise the utilisation of the hydrocarbon resources.
“Who do we trust, who has the proven competence to manage our energy sector and continue securing our future of Trinidad and Tobago?”
Energy Minister Senior Counsel Stuart Young says this is a question that will arise for the citizens of T&T this year, who takes the Energy sector through the next five years.
Speaking on the opening day of the T&T Energy Conference on Monday, he criticized those who continue to downplay Government’s efforts in the energy sector, despite what he said is advancement.
“It is easy for those without any responsibility to attempt to water down these efforts and results but you, you in this room in the sector know the reality and what it means for us here in Trinidad and Tobago. Our activities in the exploration and production of crude oil and condensate are anticipated to see significant growth over the next few years.”
Overall, he said crude oil and condensate production is projected to increase from an average of 50,357 barrels per day in 2024 to 81,773 barrels per day by 2028.
And Minister Young praised the impending development of the Manakin Cocuina field, following the successful finalized negotiations with the Venezuelan Government in July 2024.
“The development cost of the project is approximately US$1.0 billion. Peak production rates are expected to be 300 mmscf per day and all of the gas is to be sold to industries in Trinidad and Tobago.”
Minister Young noted that work is progressing in achieving the Final Investment Decision for the Dragon Field, with a view to the first gas production by 2027.
He also challenged T&T to join him in his next venture.
“We’re standing on the brink of the next chapter of T&T. And I invite all of you in the room who have a vested interest in our positive growth and our future to join with me on the next stage of the journey. Join with me, as I take on the mantle and the task of new responsibilities. All driven by a burning desire to serve my country of Trinidad and Tobago.”
The Energy Minister called for a standing ovation for Prime Minister Dr Keith Rowley for ‘championing the balance of returns’ from T&T’s natural gas resources.
TTT News
