Energy Chamber calls for expeditious solution to refinery deal

Energy Chamber calls for expeditious solution to refinery deal

While it fully supports the privatization of the Pointe-a-Pierre refinery to put the asset to productive use, the Energy Chamber is calling for a speedy closure of this matter.

In a statement, the Energy Chamber said it has been monitoring the recent announcements from both the Government and from the OWTU with respect to the proposal from Patriotic Energies and Technologies Ltd and the decision to re-establish the Evaluation Committee to review the latest proposal.

The Chamber said it continues to encourage all stakeholders to move expeditiously to find a solution to complete the sale of the assets to a private-sector entity so they will be able to generate value for Trinidad and Tobago.

The Energy Chamber said it stands ready to work with all stakeholders, as the country determines the best strategy on the privatization of these assets, in the context of the energy transition and the aftermath of the global Covid-19 pandemic.

“In this regard, we look forward to providing additional information and ideas on the future of transport fuels locally, regionally and internationally and the opportunities and threats that the changes in global energy markets present to Trinidad and Tobago.”

The Energy Chamber noted that the closure of the refinery meant the loss of many jobs and economic opportunities for their member companies and other businesses, especially in fence-line communities.

They said returning the assets of the refinery to productive operations will generate jobs, economic activity and taxes.
This, according to the Energy Chamber, must be an objective shared by all stakeholders.

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