Trinidad and Tobago and Suriname have signed a memorandum of understanding (MOU) to further cooperate in the energy sector.
The MOU was signed by the Minister of Energy and Energy-related Industries, Stuart Young and Suriname’s Foreign Affairs and International Business and International Cooperation (BIBIS) Minister, Albert Ramdin.
The signing was witnessed by Suriname President Chandrikapersad Santokhi and Prime Minister Dr Keith Rowley.
“The signing followed productive discussions on the ongoing collaborative efforts between the countries which are focused on the future development of Suriname’s and Trinidad and Tobago’s hydrocarbon industry as well as to provide energy security for the region,” according to a statement issued by the Office of the Prime Minister.
It said that both countries will now establish technical teams which will produce feasibility studies for their respective governments and this exercise will determine the way forward.
Trinidad and Tobago is the largest producer of oil and gas in the Caribbean with the natural resources accounting for an estimated 40 per cent of gross domestic product (GDP) and 80 per cent of exports.
Meanwhile, BIBIS is reporting that Suriname will host a meeting between Suriname, Guyana and Trinidad where the strategic cooperation between the countries will be given shape.
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