Page 7 - LatAmOil Week 24 2021

LatAmOil TRINIDAD AND TOBAGO LatAmOil

The funding will be used by the Ministry of (UNEP), he reported. It is also working with a
Energy and Energy Industries and the Ministry Dutch company to gain access to satellites that
of Planning and Industry for a feasibility study will allow it to monitor methane emissions from
of plans to establish green hydrogen production space, he stated.
capacity in Trinidad and Tobago, he explained. “I must commend the NGC for taking such
This study, along with subsequent studies, will definitive and proactive steps that will allow the
help the government assess the advantages company to generate tangible data sets, which
and disadvantages of focusing on hydrogen as can then be used in generating data-driven solu-
a means of reducing greenhouse gas (GHG) tions to achieve our climate change targets,” he
emissions. commented.
Rowley noted that the Caribbean state was Rowley also stressed, though, that making
already a major producer of natural gas, the the transition away from fossil fuels to other
cleanest-burning type of fossil fuel. It sells gas to sources of energy would be a gradual process.
buyers around the world and also uses domestic Gas is still a desirable fuel for world energy
production to fuel its own thermal power plants markets, since it does generate fewer harmful
(TPPs), he noted. This focus on gas has helped emissions than other fossil fuels. As such, it’s
Trinidad and Tobago keep its carbon footprint no surprise that the Gas Exporting Countries
very small, but the country is also looking for Forum (GECF) expects annual gas demand to
ways to improve its own performance, he said. rise from 3.95 trillion cubic metres in 2019 to
To this end, he said, National Gas Co. 5.92 tcm in 2050, he said.
(NGC) is striving to reduce its own emissions. “Demand for natural gas is expected to be
NGC took a step in this direction last month boosted by cumulative economic and popula-
by becoming a member of the Oil and Gas tion drivers, environmental concerns, positive
Methane Partnership (OGMP), a group estab- policy support in many countries, and increas-
lished by the UN Environmental Programme ing availability of supply,” he added. ™

COLOMBIA
ANH launches new bidding round

COLOMBIA’S National Hydrocarbons Agency
(ANH) launched a new bidding round last week,
offering investors the chance to submit offers for
32 new licence areas. In a statement, ANH said
that it had selected 28 of the blocks included in
the 2021 Colombia Round, while the other four
had been nominated by oil companies.
The agency did not name all the blocks, but
it said that only five of its own offerings were
located offshore. The other 23 are onshore and
distributed across nine sedimentary basins, it
said. Four of the basins are already being sub-
jected to commercial development (Llanos,
Valle Inferior del Magdalena, Valle Medio del
Magdalena and Valle Superior del Magdalena), The new licensing round covers 32 blocks (Image: ANH)
while the other five are frontier basins that have
not been thoroughly explored (Chocó Con- anticipated environmental and social impact of
tinental, Chocó Offshore, Sinú-San Jacinto, exploration and development work. ANH has
Tumaco Offshore and Urabá), it noted. also made arrangements to help co-ordinate
ANH further stated that eight of the blocks relations between investors, local governments
included in 2021 Colombia Round would be and communities in the vicinity of the licence
eligible for technical evaluation agreements areas, it said.
(TEAs), under which the licence holder evalu- Colombian authorities hope to name the
ates a block’s hydrocarbon potential and then winners of the bidding contest in November
decides whether to negotiate an exploration and then enter into negotiations with potential
and production (E&P) agreement. The other 24 investors soon afterwards, the agency said. This
blocks being offered to investors are eligible for schedule should allow for the signing of con-
E&P agreements only, it said. tracts by the end of December, it reported.
It also noted that participants in the auctions Mines and Energy Minister Diego Mesa said
would be able to access seismic and technical he expected 2021 Colombia Round to benefit
data on the blocks, as well as information on the the country’s oil and gas industry.

Week 24 17•June•2021 www. NEWSBASE .com P7