Official needs list from St Vincent and the Grenadines
The Joint Chambers of Trinidad & Tobago have delivered a variety of hardware items requested by NEMO in St Vincent to support relief efforts. This includes tarpaulins, wheelbarrows, shovels, rope, plastic sheeting, water boots, safety vests, cutlasses and plywood.
The Joint Chambers of Trinidad & Tobago took delivery of five chainsaws earlier today for onward delivery to the Government of Grenada for post hurricane recovery efforts. One chain saw was donated by supplier COTEEL of San Fernando and four additional units purchased by the Joint Chamber with funds donated by member companies and member of the public.
The Energy Chamber has been working closely with our partners in the Joint Chambers in Trinidad & Tobago, the ODPM and the Government of T&T in our response to the disaster caused by Hurricane Beryl. We are also coordinating with our partner Chambers in St Vincent and Grenada through CARICHAM.
For over a century, fossil fuels have played a crucial role in fueling the economic, industrial and societal development across the globe. However, given the challenges of climate change, linked in part to the burning of fossil fuels, diversifying the global energy mix to include cleaner alternatives such as renewables and nuclear energy has gained widespread acceptance as the way forward to limit global temperature increase to 1.5°C in accordance with the Paris Climate agreement. Energy sources such as solar and wind provide a pathway to green energy and are rapidly increasing in scale and application. However, biofuels, another potential source of renewable energy, are often overlooked in the green energy discussion.
HDF Energy has announced the inauguration of the world’s first plant to manufacture 1MW+ fuel cells. This industrial site is dedicated to the decarbonisation of heavy maritime and rail mobility, as well as the production of electricity for public power grids. With 80% of its production destined for export, the factory is also stimulating the local economy by creating jobs, thereby contributing to the reindustrialisation and industrial sovereignty of Europe.
The European Union has begun the process of introducing new taxes on imports of some petrochemicals and other products (such as cement) based on the carbon emissions associated with the particular product. Other major economies will follow suit, with the United Kingdom already beginning implementation of these taxes, called Carbon Border Adjustment Measures (or CBAMs). As the name suggests, the measures are aimed to address carbon leakage by adjusting the prices of commodities to ensue that producers do not avoid carbon taxes levied against domestic production in the importing market by offshoring production to jurisdictions without carbon pricing mechanisms.
Caribbean Utilities Company (CUC) has announced the closing of a US$80 million of senior unsecured notes consisting of US$40 million 6.17% senior unsecured green notes due May 15, 2039, US$10 million 6.37% senior unsecured green notes due May 15, 2049, and US$30 million 6.37% senior unsecured notes due May 15, 2049.
Aqualectra and Wärtsilä have taken a significant step towards a sustainable energy future for Curaçao by the signing of a battery energy storage system agreement.
Seatrium has been awarded a contract by Single Buoy Moorings Inc, a SBM Offshore company, for the topsides fabrication and integration of a Floating Production Storage and Offloading (FPSO) vessel.
SBM Offshore has announced that ExxonMobil Guyana Limited has confirmed the award of contracts for the Whiptail development project located in the Stabroek Block in Guyana.
The Caribbean Community (CARICOM) secretariat held another series of consultations on CSME implementation arrangements in St. Vincent and the Grenadines.
At the annual European Climate Summit in Italy, IETA unveiled its Guidelines for High Integrity Use of Carbon Credits that set out clear, unambiguous and robust guidance on how corporate buyers should consider their use of carbon credits to progress towards the goals of the Paris Agreement.
Caribbean Gas Chemical Limited (CGCL) recently announced the appointment of Keio Kato to the position of Chief Executive Officer, effective June 01, 2024, following the retirement of Pedro Arasa, who had served as CEO since 2021 and seen the company through commissioning, the achievement of commercial operations status and more recently, the attainment of 1 million metric tonnes of annual production for two consecutive years.
PETRONAS has made a third hydrocarbon discovery in Block 52 at the Fusaea-1 exploration well in Suriname’s Block 52, located about 170 km offshore and 9 km east from Roystonea-1.
Chairman of The NGC Group of Companies, Dr. Joseph Ishmael Khan, has reported positive news on the financial performance of Trinidad and Tobago NGL Limited (TTNGL) for the first quarter of 2024.
The National Energy Corporation of Trinidad and Tobago Limited (National Energy) has signed a Memorandum of Understanding (MOU) with Trinidad & Tobago National Petroleum Marketing Company Limited (NP) to conduct a comprehensive energy audit and feasibility study at NP’s facilities.
The Trinidad & Tobago private sector has always responded to disasters, both here in T&T and throughout the Caribbean. We have provided relief items, equipment, supplies and expertise in post disaster situations, working with national authorities, our private sector partners in other countries and respected NGOs.
The Ministry of Energy and Energy Industries has indicated that the Government of the Republic of Trinidad and Tobago continues to utilise all resources at its disposal to attempt to ascertain and locate those responsible for the oil spill in Tobago.
Minister of Energy Stuart Young met with representatives of the International Oil Pollution Compensation (IOPC) Fund to discuss the next steps in the claims process for compensation relating to the Tobago oil spill.