Mon | Dec 18, 2017

LNG will help to modernise country’s energy infrastructure

Published:Monday | October 9, 2017 | 12:00 AM
Russell Hadeed – Chairman of the PCJ

Chairman of the Petroleum Corporation of Jamaica (PCJ), Russell Hadeed, says the introduction of liquefied natural gas (LNG) into Jamaica's energy mix represents an advancement of the Government's strategy to modernise the country's energy infrastructure. Hadeed says this has been nearly 20 years in the making.

In his message to mark the opening of the Natural Gas Conference last Wednesday at The Jamaica Pegasus hotel in New Kingston, Hadeed said the significance of the event must spread to the wider community as "only a few operators in the local energy sector are seized of the importance of this development".

Hadeed said the three-day conference presented an opportunity for local interests to learn from regional and international experts, as well as experienced service providers about the natural gas industry and its implications.

The PCJ chairman said participants would get an in-depth analysis of the global picture with a focus on the local nuances of developing the natural gas sector in Jamaica, including supply scenarios and applications for industrial and, eventually, residential energy solutions.

 

COMMERCIAL OPPORTUNITIES

 

He said the conference would also give participants the opportunity to gain an understanding of the commercial opportunities, spin-offs and benefits the industry will offer. He also expressed that participants will engage in discussions that will contribute to the development of the policy and regulatory framework that will be integral to the fledgling natural gas sector.

Hadeed said the main goal was a prolific natural gas industry that creates jobs, facilitates production and generates economic activity.

The conference was also aimed at exploring ways in which public- and private-sector entities could work together to fully develop this new industry. It was held under the theme 'New horizons: The development of a natural gas sector In Jamaica - prospects and challenges'.

Conference organisers also pointed to Jamaica's development plan, Vision 2030, which speaks to the establishment of a modern and efficient energy sector that provides affordable and reliable energy supplies. One of the ways in which this will be achieved is through the development and use of new sources of energy such as natural gas.

Jamaica's Energy Policy 2009-2030 has, as a principal goal, that the country's energy supply is secure and sufficient to support long-term economic and social development and environmental sustainability. This requires, among other things, a national energy diversification programme; the development of a framework for the introduction of natural gas; the construction of new energy-efficient generating facilities to meet increasing demand; and a comprehensive oil and gas exploration programme. This policy indicates that natural gas must make up 26 per cent of the country's energy mix by 2020, and 42 per cent by 2030.