TT’S new government is hitting the ground running, with the energy sector being one of its focuses.
Declaring the embattled and coveted Dragon gas deal as "dead," the Prime Minister Kamla Persad-Bissessar said she is now looking at other areas to ensure TT’s oil and gas sector’s future.
This time her focus is in the Caricom region.
"I have a surprise for you," said a smiling Persad-Bissessar, at the swearing-in ceremony for her cabinet at the President’s House on May 4.
"I intend to send my Minister of Energy to Grenada, because I am being told that Grenada’s offshore has more gas and oil than the Dragon gas field."
She was referring to the Nutmeg field, an oil and gas reserve found about 100 kilometres southwest of Grenada in 2017.
She also expressed plans to look to Suriname and Guyana to strike deals for energy production and exploration.
The idea is already being welcomed by many areas, including the Energy Chamber.
In a statement on May 4, the Energy Chamber expressed optimism that if the Nutmeg field could be developed, it would be an excellent opportunity to export gas to TT.
But can the Nutmeg field bear fruit?
There is still very little known about the field, its geology and the potential for gas supply coming from the field.
Furthermore, given the current progress made in the field, Nutmeg may not be tapped in the short to medium term.
There are also benefits and challenges with other fields in Suriname and Guyana, along with great benefits.
Nutmeg: Planting a seed for the future
In an interview on The Breakfast Show on May 6, CEO and president of the Energy Chamber Dr Thackwray “Dax” Driver elaborated on the opportunities for TT that would come from collaborating on Grenada’s Nutmeg field.
"If it is a major gas field and needs infrastructure to develop it, Grenada is not going to want to put methanol and ammonia plants in Grenada," he said.
[caption id="attachment_1153887" align="aligncenter" width="401"] TT Energy Chamber CEO Dr Thackwray Driver -[/caption]
He said TT’s production and downstream plants are also very close to the field and has infrastructure in place for the processing of Grenadian gas.
TT also has its foot in the door having had several TT-based service companies involved in the exploration already done.
"I think it is an opportunity and something that would certainly be great to explore," Driver said.
"If there is new information that would suggest that it is something worth exploring quickly, then it is definitely something worth exploring."
During the People’s Partnership administration from 2010-2015, TT and Grenada signed a memorandum of understanding to advance joint exploration and exploitation of hydrocarbons in the maritime areas between the two countries.
The agreement involved collaboration on development and implementation of technical programmes, projects and activities between the two islands.
TT and Grenada would also collaborate on seismic surveys, exploration projects and development plans for unitisation of hydrocarbon re
