Developing a Caribbean Region Natural Gas Market

Miami, FL, June 5-6, 2014

Jorge Piñon at IDB ConferenceThe Caribbean region, particularly the island countries, is in need of a new energy paradigm. The region relies heavily on oil-based fuels for generating electricity. As a result, electricity costs in the Caribbean are among the highest in the world, and fluctuate greatly with the global price of oil.  With the objective of identifying ways to diversify the energy matrix of Caribbean countries, the Inter-American Development Bank has commissioned a study to analyze the feasibility of establishing a competitive, commercial supply chain for natural gas in the Caribbean region.

To present the results of the preliminary study to the governments and electricity utilities in the region, and garner feedback, the IDB is organizing a technical workshop focused on the development of a natural gas market. This workshop will be an opportunity for government officials, power utilities and natural gas stakeholders to discuss the options presented and, as such, direct the completion of the study so that it might lead to concrete steps toward the diversification of the energy matrix.

For further information about the potential market for natural gas in the Caribbean, check out the following IDB publication:

Pre-Feasibility Study of the Potential Market for Natural Gas as a Fuel for Power Generation in the Caribbean

The main objectives of the workshop are the following:

  1. Present the key findings of the Natural Gas Feasibility Study to governments and utilities.
  2. Provide government officials, utilities and natural gas stakeholders with the opportunity to comment on or query the key findings of the NG Feasibility Study.
  3. Provide companies that are interested in participating in the supply chain for LNG in the Caribbean with the opportunity to present their plans to the public and private sectors.
  4. Identify and define the most likely scenarios for establishing a supply chain for LNG in the Caribbean.

Jorge R. Piñon, Director of the Jackson School of Geosciences’ Latin America and Caribbean Energy Program (LACP) and Interim-Director for the Center of International Energy and Environmental Policy (CIEEP) participated in the second day opening session and provided the opening remarks for the event.