Trinidad and Tobago to Play a Key Role in Gas Supply

By: hungarytoday.hu

Apr 18 2024
46
3446 Views

Trinidad and Tobago to Play a

Liquefied natural gas (LNG) from Central and South America will play an increasing role in supplying the European Union, and Trinidad and Tobago will be a key player, Minister of Foreign Affairs and Trade Péter Szijjártó said in Port of Spain, the capital of the island country, on Wednesday. The foundations for cooperation have already been laid, and implementation will begin during the Hungarian EU Council presidency.

Péter Szijjártó described the current visit as an event of diplomatic history, pointing out that a visit by a Hungarian Foreign Minister to the Caribbean island country had never taken place before and no high-level contacts had been established. He stressed that it is the second richest country in the region, thanks to its natural resources.

We have been laying the foundations for energy cooperation between Central America and the Caribbean, and the European Union for the last year or two, and it is during our presidency that the first steps will be taken to really start and implement this energy cooperation,”

he announced.

He pointed out that Trinidad and Tobago has around 300 billion cubic meters of natural gas reserves and has built up significant liquefaction capacity, with the country’s LNG port capable of liquefying 20 billion cubic meters of natural gas per year. He underlined that last year, half of this had already been used and ten billion cubic meters of gas had been exported, more than four billion of which to Europe, while in the meantime an agreement had been reached with Venezuela to jointly produce and export it from there, partly to Europe.

The Foreign Minister also reported that the European Union has decided to support the development of the Global Gateway international development cooperation, which is needed to transport natural gas extracted in the region in the form of LNG.

And this year, a decision was made to make the energy industry, the petrochemical industry here more environmentally friendly than ever before,”

he said.

He then stressed that Trinidad and Tobago will play a key role in channeling natural gas exports from Central and South America to Europe in the coming years, and will be an important transit country and source of imports for the EU. “We expect that the European Union will increasingly use natural gas from the Caribbean and Latin America in liquefied form,” the Minister noted.

Yesterday, Szijjártó also held talks with the Trinidad and Tobago Foreign Minister, the Minister of Sport, and the Minister of Energy.

In a Facebook post following his meeting with Foreign Minister Amery Browne, he said they agreed that all wars must be ended through negotiations and that peace saves lives. “We refuse to make undignified accusations against governments and countries that see migration as a threat, and we also agreed that the sovereignty of all countries must be respected to the utmost,” he wrote.

In addition, following the meeting with the Minister of Sport, Shamfa Ashaki Cudjoe, he announced that “from now on, we will work closely together in the field of sports training, sports infrastructure development, and sports education.”

Milestone Reached in Energy Supply, with Gas to Come from Türkiye