Guardian ( Trinidad and Tobago )
19 May 2023 ( Page 15 )
‘T&T should reduce gas for power generation’
One of the worrying trends for the country is that
over the past decade consumption of electricity in
the residential sector has increased by 31 per cent,
while in the industrial sector it decreased by 20 per
cent, says Dr Thackwray Driver, president and CEO,
Energy Chamber of T&T.
He made the statements while delivering the
opening remarks at the EU’s presentation of the
report on Setting the path for Wind Energy
generation in T&T held at the Hyatt Hotel, on
Wednesday.
Driver said renewable energy therefore, can play an
important role in reducing the carbon intensity of
commodities.
“Lower-carbon LNG and lower-carbon
petrochemicals will be able to command better
access to markets and premium prices.
The Carbon Border Adjustment Mechanisms—or
CBAMs—being introduced by the European Union
mean that there is an economic imperative to reduce
the carbon footprint of our commodities (especially
ammonia in the first instance) or those commodities
could face border higher taxes in EU markets,”
Ramlogan said.
He added that the introduction of renewable sources
of energy
and in particular the availability of green hydrogen,
which is hydrogen produced from renewable energy,
is vital to the long-term sustainability of T&T’s
petrochemical industry.
“Increasing investment in renewables is not just
important because of our commitment to reduce
GHG emissions. It might, at first sight, seem
counter-intuitive but increasing investment in
renewables relates directly to two of our five major
advocacy areas for securing the future of the gas
industry,” Driver added.
Firstly, he added, bringing in renewable energy
sources will help to divert natural gas away from
being burnt in turbines to generate electricity, to the
wealth-creating and foreign exchange-earning
petrochemical and LNG sectors.
According to Energy Chamber president, the more
electricity this country can generate from
renewables, the more natural gas it can deliver to
Point Lisas to produce ammonia, methanol and other
chemicals or deliver to Atlantic in Point Fortin to be
exported as LNG.
“I should add that LNG plays an important global
climate change and security role—by offsetting coalgenerated power generation and by helping our
friends and partners in Europe reduce their reliance
on natural gas from Russia, in the aftermath of the
invasion of Ukraine,” Driver noted.
In addition, he emphasised that introducing
renewables, energy efficiency has a huge role to play
in reducing the volumes of natural gas being used in
electricity generation, saying that the current
electricity rate review proposals should be assessed
in this context.
PICTURE SHIRLEY BAHADUR-
Ministry of Planning and Development head,
Multilateral Environmental Agreements, Kishan
Kumarsingh and president of the Energy Chamber
of Trinidad & Tobago and CEO Dr Thackwray Driver.