Page 58 - PNM General Election 2020 Manifesto
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• Complete the ongoing assessment of the gas Based on current information and research,
value chain, so that the necessary decisions be demand for Methanol as a global commodity will
taken quickly to assure the viability of the chain continue to grow over the next several years and
in the short and medium term Methanol will continue to be a very viable global
business.
• Continue and accelerate high level discussions
with major oil and gas companies to negotiate an However, because of gas pricing issues, Trinidad
even greater share of energy revenues for and Tobago may become a marginal ammonia
Trinidad and Tobago and methanol producer and must quickly find a
way to avoid the risk of being rationalized in
• Review the Petroleum Taxes Act and the favour of other countries. In the post-Covid-19
existing oil and gas fiscal regime with a view to global environment, as energy prices continue to
simplifying it and making it more competitive to be depressed, petrochemical industries will be
investors increasingly cost competitive with prices
predicted to remain low. For Trinidad & Tobago
• Review the application of Supplemental to continue to operate in these industries, it must
Petroleum Tax (SPT), particularly for small be competitive in terms of the cost of production.
producers and mature fields, to encourage
investment and job creation To achieve increasing competitiveness in the
downstream gas sector, the PNM will:
• Improve transparency and accountability in bid
rounds • Actively explore opportunities in the regional
energy market, including small scale LNG, to
• Encourage major upstream players with support the transition from heavy fuel oil and
significant investments in infrastructure diesel. This would include an assessment of
(Heritage, NGC, BP, Shell, BHP, EOG, Perenco and infrastructural changes which might be required
DeNovo) to share infrastructure and services at Atlantic LNG to support this market
• Explore opportunities for access to and sharing
of common gas transportation and processing
infrastructure which may be underutilized, in
order to optimize costs
• Ensure mechanisms are in place to ensure
effective management of capacity and gas supply
across Trinidad and Tobago
• Work with the Energy Chamber to improve • Ensure continued development of competitive
various processes for the implementation of and competent local content
projects in Trinidad and Tobago, such as
TTEngage, developed by the NGC, which can be • Proactively explore opportunities to optimize
expanded to be the primary interface for project and efficiently process available gas volumes, and
approvals to reduce GHG emissions, thereby creating value
through the entire value chain, and allowing
PROMOTING DOWNSTREAM PETROCHEMICAL Trinidad and Tobago to respond to a rapidly
AND OIL PRODUCTION changing global regulatory environment
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PNM THE RIGHT CHOICE ON AUGUST 10 People’s National Movement Manifesto 2020
