Jamaican government looks to energy diversification

Jamaican government looks to energy diversification

Jamaica looks to energy diversification

The Jamaican government has stated that energy diversification, with increased use of renewable solutions, is a strategic priority in order to achieve sustainable economic growth.

“Our energy-sector plan focuses on the creation of a sector that provides affordable and accessible energy supplies with long-term energy security, contributes to international competitiveness through the productive sectors of the economy and improves the quality of life for citizens,” Finance Minister Audley Shaw told delegates attending the Natural Gas Conference in Jamaica. The conference ended on Friday, Oct 6.

National Energy Policy

Jamaica’s National Energy Policy of 2009-2030 addresses the country’s need to a secured, diversified and sufficient supply of energy, which will, in turn, support long-term economic and social development as well as environmental sustainability.

Shaw told delegates that the plans are “strategic, dynamic and adaptable to the ever-shifting scope of global energy demands”.

The three-day conference was held under the theme ‘New Horizons: The Development of a Natural Gas Sector in Jamaica – Prospects and Challenges’. The conference was jointly hosted by the Office of Utilities Regulation (OUR) and the Petroleum Corporation of Jamaica.

It sought to foster greater understanding of the implications of the introduction of liquefied natural gas (LNG) to the Jamaican marketplace, with particular emphasis on the anticipated economic impact, commercial opportunities, governance and regulation.

A regional hub for natural gas

Technology Minister, Dr. Andrew Wheatley also urged local service providers to take advantage of opportunities that will emerge from Jamaica being positioned as the regional hub for natural gas.

He told the conference that the government wants Jamaica to become the regional hub for natural gas and efforts are underway to bring it to fruition.

About the Conference

The three-day Natural Gas Conference presented a chance for a wide range of stakeholders to learn about the opportunities, changes and benefits that should result from the introduction of natural gas into Jamaica’s energy mix. The agenda featured presentations and panel discussions from key players in the regional and international gas industry; as well as representatives from financial,
academic, statutory and regulatory institutions. The main objective was to explore the economic, commercial, legal and regulatory implications of the development of a local natural gas industry.
The conference is designed to be both a public education activity and an opportunity for stakeholders to contribute to the development of the policy and regulatory framework for the gas sector.

 

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