Page 9 - LatAmOil Week 09 2022
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The sources also speculated that the prospec- as an entry point for petroleum products from
tive buyers had discussed their proposals with its Deer Park refinery in Texas, they said. The
Energy Minister Rocio Nahle and President terminal is in an advantageous location for han-
Andres Manuel Lopez Obrador but did not say dling fuel shipments bound for central Mexico,
definitively whether any such discussions had they explained.
taken place. The Mexican businessmen will not be able to
If the terminal comes under new ownership, proceed unless the CRE releases the hold that it
they added, it might start handling fuel ship- imposed on Monterra’s terminal last September,
ments from additional companies beyond the El Sol de Mexico noted.
three that it served while under Monterra’s con- As of press time, the US company had not
trol – namely, units of BP (UK), Shell (UK) and responded to reports of a possible buyout. Like-
TotalEnergies (France). One of these might be wise, neither Pemex nor the Mexican govern-
state-owned Pemex, which could use the facility ment have commented on the matter.
TRINIDAD AND TOBAGO
PM Rowley claims billions in lost
revenue from LNG sales in GECF speech
TRINIDAD and Tobago’s Prime Minister Keith and chairman of Caribbean Airlines Ronnie
Rowley claimed at the Sixth Summit of the Gas Mohammed. The topic of the forum was the use
Exporting Countries Forum (GECF) that his of natural gas to fuel the global post-pandemic
nation had lost billions of dollars in potential economic recovery and achieve sustainability.
revenue from LNG sales. Prior to the coronavirus (COVID-19) out-
The root cause of this loss is believed to be break, Trinidad and Tobago’s energy sector
the expiration of LNG licences as well as what was enjoying a strong financial uptick; a per-
the government characterises as the unequal formance that the prime minister attributed to
distribution of LNG revenues between itself his government’s natural gas strategies. He fur-
and gas companies. “It is in situations like this thermore revealed that the nation’s post-pan-
that the value of the membership of Trinidad demic recovery was on track, spurred on by
and Tobago in the GECF takes on added sig- the introduction of an array of gas projects that
nificance,” the prime minister stated during his were launched in 2021 as well as several that are
GECF address. scheduled for launch in 2022.
According to Rowley, co-operation between Another issue that Rowley addressed was
Trinidad and Tobago and the GECF is necessary the Caribbean nation’s transition to a low-car-
as his country looks to restructure its LNG busi- bon economy. Trinidad and Tobago has com-
ness and navigate the latest price changes. mitted itself to this vision, and the transition of
Joining Rowley as part of his nation’s del- the domestic economy is underway, he declared.
egation at the forum was Energy Minister The cost of Trinidad and Tobago’s efforts
Stuart Young, President of Trinidad and Toba- to realise this vision is estimated to be around
go’s National Gas Co. (NGC) Mark Loquan $2bn.
GECF held its 6th summit meeting in Doha, Qatar (Photo: GECF)
Week 09 03•March•2022 www. NEWSBASE .com P9
