Guyana has the potential to influence region’s energy security – T&T Energy Minister

Guyana is among other Caricom countries that have the potential to influence energy security around the world, according to Trinidad and Tobago’s Minister of Energy and Energy Industries, Stuart Young.

Young was at the time making his presentation which was themed ‘collaboration’ on Tuesday at the 2024 Energy Conference and Supply Chain.

He said that it is important for developing countries to stick together and help each other to implement programmes and policies that will ensure prudent management of the countries’ oil resources.

“What we need is an equal voice and an equal seat at those tables of decision-making. And when we have countries right in CARICOM, for example, Guyana, that is now producing significant amounts of oil, a hydrocarbon that is needed in the world…We hold the opportunity right in our hands to influence this energy security conversation taking place across the world,” the minister stated.

He added that Suriname has similar potential while Trinidad also consists of a significant gas-based economy.

The minister further noted that oftentimes developed countries come into these smaller countries and utilise their resources more than the country itself does.

However, with such a powerful collaboration then these countries are poised to negotiate the best deals.

“My brothers and sisters in CARICOM, if we collaborate, we share information, we share experiences, it can only strengthen not only our voice but it can strengthen our position as we operate in a very dynamic, very sophisticated world that is a global world of energy,” Minister Young urged.

Additionally, he stressed the ability of these countries to sit at a table and share ideas with those who are now entering the oil and gas business.

Even though, he asserted, these smaller countries should not be underestimated.

With these countries undergoing tremendous changes, Young encouraged them to take control of their destiny and unleash the exorbitant potential that they have.

As elected leaders and government, it is their responsibility to do the best that they can to get the best revenue streams and the best deals. 

“Our people are the ones who own the resources. And we are now in a position at this stage in our history and our decision-making to take the types of decisions that future generations will benefit from,” the T&T energy minister posited.

The third Energy Conference and Supply Chain is currently being hosted in Guyana at the Marriott Hotel in Kingston, Georgetown from the 19 to 22 of February under the theme ‘Fuelling transformation and modernisation.’

Hundreds of exhibitors from several countries are at the Marriott in Kingston showcasing the products and services that they offer to fuel the energy sector around the world.