Trinidad pursues UK -based fund for oil spill compensation
The government of Trinidad and Tobago has successfully arranged for international compensation to address an ongoing oil spill off the coast of Tobago, a situation with damage costs potentially rising to as much as $20 million.
This funding initiative has been spearheaded by contributions from Trinidad and Tobago to the International Oil Pollution Compensation Fund (IOPCF), facilitating financial aid for the cleanup efforts.
Economic and environmental impact
The spill, first detected on February 7, has notably affected the Atlantic coast of Tobago.
It has caused significant damage to the island’s mangroves, a crucial ecological zone, and poses a threat to the tourism and fishing industries which are vital to the local economy.
The oil has also spread into the Caribbean Sea, posing a risk to neighboring regions including Venezuela and the Dutch island of Bonaire.
Vessel and liability details
The incident involved a ship used as a barge, known as 'Gulf Stream,' which was being towed by the tug ‘Solo Creed.’
The circumstances surrounding the spill have led to a complex investigation involving changes in the vessel’s name and ownership.
On April 29, a decision was made to seek compensation under the conventions of civil liability and fund conventions applied by the 1992 Fund’s executive committee.
This decision ensures that compensation will be distributed for reasonable claims linked to the spill.
Government response and international cooperation
Energy and Energy Industries Minister, Stuart Young, emphasized the ongoing efforts to locate the vessel’s owner, which is crucial for pursuing further claims.
The vessel was en route to Guyana, picking up products in Venezuela, which added an international dimension to the crisis.
Assistance has been sought from several countries, including Tanzania, Nigeria, Panama, Aruba, and Curacao, to trace the ownership and facilitate legal and environmental responses.
