MercoPress. South Atlantic News Agency

Falklands' representative at the Caribbean premier energy conference

MLA Ian Hansen discusses hydrocarbons development at the T&T energy conference in Port of Spain

The Falkland Islands' government is attending the annual January 18/20 Trinidad and Tobago Energy Conference sponsored by the Energy Chamber of the Caribbean country. Member of the Legislative Assembly Ian Hansen is representing FIG at what is considered the premier energy conference in the Caribbean which promotes vigorous debate and discussion among leaders of the industry, government and academia.

 Approximately 2500 visitors were in attendance over the three days of the 2015 Energy Conference – roughly six to seven times more than other annual energy conferences held in the country. Delegates from the US, Ghana, Australia, the United Kingdom, Germany, Canada, Suriname, Falklands Islands among others were participants.

Last year as a result of the Falklands' attendance to the conference close commercial and support links were established to help the Islands with their budding oil industry taking advantage of the rich experience and evolution of Trinidad & Tobago's main economy sector.

The potential of scholarships for Islanders to train at the Trinidad government funded NESC (National Energy Skills Center) in trades and craft type skills relating to oil industry was agreed with Falklands government and private sector. Likewise last June, Falkland Islander Glenn Ross spoke on wind energy and integration to diesel systems at the annual conference of Trinidad and Tobago Professional Engineers Association (APETT).

The conference attracts senior decision makers in the industry including the CEOs, supply chain, finance, and operations managers of the major upstream, midstream, and downstream operator companies in Trinidad and Tobago. Last year post conference survey indicated that 92% of delegates would return and 99% would recommend the conference to others.

The theme of this year’s conference is “Energy and Development.” What is clear is that the energy sector will continue to fuel Trinidad & Tobago’s growth and prosperity over the next few decades and mapping out a way to ensure sustained development amidst an ever changing global environment is pivotal. The sector is at a crucial juncture where it must evolve in order to continue being competitive.

The warning signs are clear. Oil price dropping below 30 dollars the barrel, the “shale gale” in the United States, shifting gas markets, the expansion of the Panama Canal, innovations in deepwater technology, new hydrocarbon discoveries in emerging markets, and the slide in hydrocarbon prices suggest that T&T must remain vigilant.