The governments of Trinidad and Tobago and Guyana are resuming discussions centred on energy cooperation in an effort to take advantage of the resources, infrastructure, and know-how in both nations.
Vickram Bharrat, the minister of natural resources for Guyana, claims that the two Caricom members have been working together on shared goals for a long time.
Bharrat noted that attempts to strengthen cooperation in the energy sector have been ongoing and contrasted Guyana’s newly discovered oil and gas potential with Trinidad’s expertise in this area.
However, there was some delay in the formation and operation of technical working groups after Franklin Khan, the former energy minister of Trinidad and Tobago, passed away in 2021. Nonetheless, work in those groups is now scheduled to resume.
Days prior, Bharrat stated that Guyana was eager to advance its natural gas collaboration with Trinidad and Tobago and Suriname in order to capitalise on that resource as well.
He pointed out that Guyana’s interest in cooperating on natural gas should not be interpreted as a blatant rejection of Trinidad’s support for the oil industry.
He added that Guyana does not require Trinidad’s Pointe-a-Pierre refinery because it is already building a small oil refinery of its own.
The two nations have already signed a Memorandum of Understanding (MoU) for renewed and improved cooperation, which will require significant political engagement to solve issues including the reduction of non-tariff trade barriers and obstacles.
Prior to that, the nations reached agreements on a number of other agreements, including a Framework Agreement on the Deepening of Bilateral Cooperation, a Trade Protocol on Fresh Agricultural Produce and Forest Products, a Memorandum of Understanding on Cooperation in the Energy Sector, and Memorandums of Understanding on Cooperation in the area of Food Security.