LNG talks with T&T back on track

Bilateral trade talks led by Minister of Industry, Investment and Commerce Anthony Hylton with the Government of Trinidad & Tobago, have resulted in the re-opening of discussions for the supply of liquefied natural gas (LNG) from the twin-island republic to Jamaica.

The Trinidad & Tobago Government has agreed to re-examine a previously signed agreement between the Patrick Manning administration and Jamaica as the starting point for the discussions, according to a release from JAMPRO.

Hylton arrived in Trinidad on Sunday and has had meetings with cabinet ministers, including the island’s Energy Minister Kevin Ramnarine, who held earlier discussions Jamaica’s Energy Minister, Phillip Paulwell.

Announcement of the re-opening of LNG talks came at today’s official opening of a tTrade and investment convention in Port-of-Spain, at which Ramnarine stated the willingness of his administration to reopen discussions.

Ramnarine told members of the private and public sector that energy security was an important pillar of any economy, while acknowledging that the average price of energy in Jamaica was 10-fold the price in Trinidad & Tobago.

Energy has been an issue of deep concern in Jamaica’s productive sector and is at the heart of recent calls from the private sector for the island’s withdrawal from CARICOM.

The discussions by Hylton form part of an ongoing effort to re-balance Jamaica’s trade relationship with Trinidad and to bring it in line with the Revised Treaty of Chaguaramas.

The Minister has extended an invitation to Ramnarine to visit Jamaica to continue discussions with Paulwell and himself on the pressing issues related to the supply of LNG.

Hylton is attending events in Trinidad under the banner of Caribbean Investment Week.

These include the Caribbean Investment Forum, an OAS meeting of regional CEOs and chairmen, as well as a trade and investment convention where JAMPRO, the Jamaica Exporters Association and the Jamaica Manufacturers Association co-ordinated with 14 Jamaican companies to promote exports and investment opportunities.

While in Trinidad, Hylton also had discussions with a number of private sector companies from Central America and the Caribbean who have expressed interest in investment opportunities in Jamaica.

business@gleanerjm.com