TT/Panama agree to cooperate in energy matters

Prime Minister Kamla Persad-Bissesar, Minister of Energy of Panama Juan Manuel Urriola Tam and Ambassador
Arline Gonzales Costa

Trinidad & Tobago and Panama have agreed to sign a Memorandum of Understanding (MOU) for cooperation in energy matters.

Prime Minister Kamla Persad-Bissessar made the announcement Monday following a meeting with a delegation from the Republic of Panama headed the country's Energy Minister, Juan Manuel Urriola Tam.

The T&T delegation included Today, Minister of Foreign Affairs and Communications Dr. Suruj Rambachan and Energy Minister Kevin Ramnarine.

The delegations discussed economic and technical cooperation between both countries. Panama is looking to Trinidad and Tobago for expertise and supplies of energy. 

The discussions focused on:

• The supply of Propane, Butane, Diesel, Gasoline (92 & 95) and Bitumen to Panama
• The possible acquisition of a bunkering licence for Petrotrin in the free-zone which will give access to bunkering ships and the local market to help in securing Petrotrin’s market downstream
• The granting of tax concessions for the National Petroleum Marketing Company (NPMC) to establish a blending plant in Panama which will give Trinidad and Tobago the advantage of getting into the lubricant and additives market 
• Securing supply of LPG from Phoenix Park Gas Processors Limited. 
• Option for NPMC to establish retail marketing prospects. 
• Securing LPG supply to Panama
• Further concessionn on LNG and NGC

Panama is also planning to move to natural gas to generate power with the establishment of a regasification plant to receive natural gas. 

Since T&T is the only country in the Americas to export natural gas, the country is well positioned to be first movers in this market. 

Panama is also looking to improve its road network over the next five years and will need asphalt and asphalt based products. Discussions are on-going between Panama and Lake Asphalt Company of Trinidad & Tobago (LATT) to provide the asphalt as road building technical consultancy services to Panama. 

The delegations agreed that Panama's National Secretariat of Energy and the T&T Energy Ministry ratify a Memorandum of Understanding (MOU) to establish cooperation in the energy sector and submit the MOU to both Governments for consideration and approval. 

They also agreed to set up a task force will be set up to take these actions forward immediately.

PM Kamla Persad-Bissesar; Minister of Energy of Panama, Juan Manuel Urriola Tam;
Ambassador Arline Gonzales Costa; T&T Foreign Minister Sujurattan Rambachan; T&T Energy Minister
Hon. Kevin Ramnarine and Neil Gosine, Chairman, NP