CAIRO, Egypt – Trinidad and Tobago told an international energy conference that natural gas must continue to play a role in energy and food security which are top priorities globally
Energy and Energy Related Minister, Stuart Young, addressing conference in Egypt.Addressing the 24th ministerial meeting of Gas Exporting Countries Forum (GECF) here, Energy and Energy Related industries Minister, Stuart Young, said there is for liquefied natural gas (LNG) and gas produced products such as fertilizers and ammonia in particular, and its by-products.
“We are also conscious of the negative effects of climate change in particular on small island states and other CARICOM islands, as well as in countries on the African continent, as we all feel the ill effects of climate change,” Young told the conference.
“It is up to us as GECF members to responsibly carry the narrative globally, especially with COP 27 approaching, as to how we can use technology and responsibly continue to develop the natural resources we all have of natural gas and to recognize the need globally to get the balance correct”.
According to an official statement issued following the meeting, the global gas outlook is projecting that natural gas share in the energy mix will increase from 23 to 26 per cent by 2050, underpinned by population growth, doubling of world gross domestic product (GDP), improved standards of living, and policies and technology aimed at improving air quality and mitigating climate change..
The conference is considered an opportunity to exchange ideas about the challenges and opportunities in the energy industry, and it provides a space for constructive dialogue
Young, who is leading a delegation to the conference, including Penelope Bradshaw-Niles, the chairman of the GECF’s executive board, said there is need for the GECF to stand with, and to responsibly advocate for the proper development of natural gas resources on the continent of Africa in a responsible manner and to assist African countries to develop their hydrocarbon resources.
He said that African countries with hydrocarbon resources must not be left behind and that Trinidad and Tobago has immediate available capacity in both LNG and petrochemical products like ammonia and fertilizers which are needed by the world “as we face a global crisis in energy and food security”.
Young said Trinidad and Tobago is prepared to develop neighboring proven gas reserves so as to assist with energy security in CARICOM, Latin America and others countries and that Port of Spain will continue to develop its hydrocarbon resources in a responsible manner whilst also developing cleaner energy.
According to the statement, the ministerial meeting “emphasized the GECF objective of supporting the permanent sovereignty of its member countries over their natural resources and their ability to independently plan and manage the sustainable, efficient, and environmentally conscious development, use, and conservation of natural gas resources for the benefit of their people, including through cooperation with neighboring countries without restrictions.
“It also reiterated the importance of cooperation and coordination between member countries and reaffirmed its support for genuine and strengthened dialogue between producers, consumers, and other relevant stakeholders with the objective to ensure the security of demand and the security of supply, as well as open, transparent, unhindered, and non-discriminatory gas markets.”
The 25th GECF Ministerial Meeting will convene in Malabo, Equatorial Guinea, in October 2023.
