Chavez saves Jamaica's LNG plan

[johnnycakes]

Re: Chavez saves Jamaica's LNG plan

Tuffy ,
I'm sorry, I thought you knew that T&T backed out of its deal , leaving Jamaica high and dry.
My question was why would they do this since Walhalla and others say that T&T has enough reserves to meet its obligations under the cancelled deal.

What has T&T got against Jamaica except a balance of trade that is very unbalanced.?

[Tuff Gong]

Re: Chavez saves Jamaica's LNG plan

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: johnnycakes</div><div class="ubbcode-body">Tuffy ,
I'm sorry, I thought you knew that T&T backed out of its deal , leaving Jamaica high and dry.
My question was why would they do this since Walhalla and others say that T&T has enough reserves to meet its obligations under the cancelled deal.

What has T&T got against Jamaica except a balance of trade that is very unbalanced.? </div></div>

A MOU is not a contract. Some of us have been following this thing since PJoke announced it, then went to Trinidad and brought back a piece of worthless paper.

It is more likely that it was a political deal guaranteed to put the GOJ in a position to tell the foreign investor that hey go ahead invest yu money because we can guarantee the fuel.

Having the capacity does not mean, you have the logistics to deliver the goods immediately. This holds for Trinidad and it holds for Venezuela.
Trinidad has said it is willing to facilitate the sourcing and supply of the fuel to Jamaica in partnership with Venezuela.

It appears that you only read what you want to read, when you want to read it. Why should Trinidad or any other country consider its bottom line when making decisions?

[Tuff Gong]

Re: Chavez saves Jamaica's LNG plan

<span style='font-size: 14pt'>No gas from Trinidad, Venezuela by 2009</span>

By Camilo Thame
Sunday, April 29, 2007

Faced with the prospects of not getting natural gas from either Venezuela or Trinidad and Tobago by 2009, the Jamaican government has begun searching for "bridging volumes" to meet the less than two-year timeline that has been set by alumina producer Alcoa ahead of its planned expansion of its plant located in Clarendon.

At the same time, the Petroleum Corporation of Jamaica (PCJ), the agency charged with locating the needed natural gas, has opened the bidding process on a floating terminal that will receive and regassify liquefied natural gas (LNG).

"It appears that LNG from either of these two sources (Trinidad and Venezuela) will not be available in time to meet the 2009 target for first gas in Jamaica," said the PCJ in prequalification documents. "Therefore, the GOJ is now seeking bridging volumes of LNG to facilitate the 2009 start-up."

In less than three weeks the government agency plans to close off receipt of prequalification documents that would enable the entity that is also the parent company of local oil refinery Petrojam, to shortlist potential providers of the floating facility.

June 15 is the date set for the opening of the actual bid on the project, that will replace the US$350-million regassification facility that was once planned for Port Esquivel, Old Harbour.

The switch to natural in Jamaica, 1.2 million tonnes per annum (mtpa) in the first instance with a potential for 2.5 million mtpa, has been touted as a major component of the state's plan to diversify energy sources to reduce cost - last year Jamaica's oil import bill totalled US$1.6 billion.
The move would also facilitate the establishment of an industrial park adjacent to the terminal facilities for the erection of Independent Power Producers (IPPs), use of cryogenic energy and development of industrial projects.

More importantly, "the timing of introducing natural gas is closely linked with the US$1.6-billion expansion of Jamalco's alumina facilities scheduled to start in 2009."

http://www.jamaicaobserver.com/magazines...ELA_BY_____.asp