Roberto Pocaterra Pocaterra Floyd Google//
Energy Conference 2018 highlights

Posted by By at 25 enero, at 12 : 52 PM Print

In delivering remarks at the opening ceremony of the event, bpTT regional president Norman Christie stuck to the conference?s theme by highlighting the need for increased collaboration in the sector.

Using bpTT?s 2017 successes with the startup of the Juniper platform?which produces 590 million standard cubic feet of gas a day (mmscfd)?and the Trinidad Onshore Compression project as the backdrop, Christie said this could not have been achieved without the collaborative effort of multiple parties, while underscoring the difficulties involved in making collaboration a reality.

?The TROC project provides a classic example of just how challenging industry collaboration can be. The bpTT operated project utilises compressors located on Atlantic?s compound and impacts multiple pipelines in the national natural gas network. Approximately 20 different entities were involved in pulling this project together, and approximately 20 commercial agreements had to be negotiated and numerous local and foreign contractors engaged,? Christie said.

The regional president added that in spite of bpTT?s successes in 2017, more was required from a collaboration perspective. 

?Notwithstanding bpTT?s successes in 2017, we will be the first to say there is still a lot more to be done.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
From a financial perspective, despite all our successes, bpTT is still being heavily funded by its shareholders.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
We need to return to positive free cash flow and that will require even greater collaboration across the industry,? he said.

Christie noted that though 2017 proved successful for the company from a project startup perspective, others in the energy sector suffered heavily.

He said: ?BPTT is also mindful of the fact that our 2017 successes do not paint the complete picture for the industry.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
I relate to this is in the way that a cricket batsman might relate to scoring a century while his team is losing.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
Of course, we celebrate the successes of 2017 but that celebration is tempered by the circumstances faced by others in the industry and country.?

The bpTT executive pointed out that Atlantic LNG was still suffering from gas shortages, local contractors were still feeling the effects of contraction in the industry, and important contracts between NGC and petrochemical players still need to be negotiated.

Weaving the theme of collaboration throughout his discourse, Christie concluded by pointing out that though challenges remained in the sector, now was not the time to throw in the towel on the local energy industry.

?I know there are some who are thinking about giving up on the industry and on the country.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
For bpTT that does not feature in our thinking.

?We are encouraged by the people of T&T, the young people who have immense promise, and the older people who have contributed so much to create many things that are the envy of the world.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
We remain focussed and committed. We subscribe to the African proverb that if you want to go fast go alone. If you want to go far go together.?

bpTT regional leader: Better policy alignment needed across energy industry

Against the background of the theme, ?Maximising Value Through Collaboration? bpTT president, Norman Christie agreed, ?There are still specific areas that we can do more on.?

Referring to collaboration in a broad sense as he said it must be extended to include both government and private sector partners, he claimed, ?The one area I would pick that we can continue to do more in relates to policy.?

Harking back to a speech he delivered during the opening ceremony on January 22, Christie said, ?We have actually made good advances on some aspects of policy but you would have heard from multiple speakers, there are some issues that need to be resolved with regards to the use of gas.?

He warned that they ?would keep popping up in negotiations as we think about the petrochemical plants for the resolution of train one and the specific thing that we need to do is to get the right players having those conversations.?

Christie said, ?T&T has an advantage in this industry.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
We compete but there is a level of familiarity and conviviality that is not often present in some jurisdictions.?

He was very optimistic as he urged the players involved to get together and thrash out the issues, as he said, ?It shouldn?t be too hard.?

Regarding the local content policy, he commended the T&T Energy Chamber for making a good start last year but encouraged them to go further.

?Now we need to put more teeth to that grid learning and we have to move to action.?

Shell country chair: Put renewable energy at forefront

Providing his perspective as it related to renewable energy, Shell T&T Resources vice president, Derek Hudson, said, ?It is an element of our energy business that we need to embrace going forward into the future.?

He said it was not only because it was being done in the US and elsewhere, ?it is just good business.?

?As we go forward, the energy mix is going to hit us and we need to be prepared for it.

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra
We need to start thinking here in T&T, of how we are going to start using renewables, how we are going to reduce our carbon footprint and how we are actually going to get competitive in that space to better utilise our hydro-carbon resources and approach 2030, 2035 and 2040 with some of the same policies that other international organisations and countries are doing now with respect to their renewable strategy.?

Hudson claimed this was a key part of doing business in T&T now and he commended government for inviting expressions of interest for renewable projects which he described as, ?a step in the right direction.?

Hudson was critical of current practices as he claimed, ?There is absolutely, still too much energy waste here in T&T and it is something we need to look at.?

Pointing to the simple act of turning lights off in a building overnight, Hudson offered, ?It has been too easy to obtain for too long but it is impacting the petrochemical industry and the energy industry now in T&T.

But, at some point in time, it is going to start impacting citizens in quite a large way and we need to respond to that appropriately.?

RBC MD: Role reversal taking place

Managing director of RBC Royal Bank, Darryl White, offered his perspective on the role reversal that has been taking place over time between the private sector and the state.

He admitted, ?The State, at one time, would have taken care of people with the private sector more focused on business.?

However, he said, this had changed to one where, ?the State has tried to run itself more like a business and the private sector has become much more people and community focused.?

White said a conversation was necessary where both sets of players had to look at how they could learn from each other.

?We have been put in a position where there is a fantastic opportunity for that collaboration because we can both do better from the business side for the public and also from the public side for business.?

Like Christie, White agreed the conversation needed to be ?widened? to include more stakeholders as the objectives were clearly established.

FCB CEO: Energy companies are complex structures

First Citizens CEO Karen Darbasie said energy sector companies were complicated entities?based on the volatility of the financing and commodity prices, further confirmed by supply-chain dynamics based on global market conditions?all of which she said the local company did not have control of.

In the case of a small service provider, she said, ?We can?t take collateral because it?s not a house we can take that we can sell, so we need to see certainty of cash flows or at least some level of predictability.?

She said proof of contracts was one level of assurance they often looked for.

Darbasie said the inclusion of greater local content would afford both the banks and companies greater opportunities for growth and diversification.

On the issue of competitiveness, BHP T&T president, Vincent Pereira, said although the country continued to experience a challenging time, oil and gas remained a foremost component which could not be ignored and whose energy demands also continued to increase daily.

?As things emerge and as things get a bit tighter, the areas that are going to win are the areas that are most competitive.?

He said up, mid and downstream entities, the State and the private sector had to recognise that we all need to be on our competitive best.

Pereira said this could only be achieved through collaboration, as he advised, ?partnerships in the broader sense is the key to unlock the future for us.?

Energy Chamber CEO: Local content still a priority for the sector

Dr Thackwray ?Dax? Driver, president, Energy Chamber of T&T, in one of his presentations gave a summary of local content in the local energy sector.\

He referred to the charter that was signed in 2017 on creating more local content in the energy sector.

He said one of the commitments operators made was to optimise the potential of the value in T&T for the procurement of goods and services.

Driver said they have commissioned a study to measure how this will be done but added a similar study needs to be done at the national level on the greater use of local content.


© Roberto Pocaterra

© Roberto Pocaterra Pocaterra

© Roberto Pocaterra

© Roberto Pocaterra Pocaterra

Con información de: The trinidad Guardian


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