I have been authorized by Cabinet to make the following statement to this Honourable House.
In 2005, the availability of gas fueled the interest by prospective investors in the establishment of gas based industries in Trinidad and Tobago (T&T). One such project was a Gas to Liquids Project (GTL) which was a joint venture between World GTL Inc. (WGTL) and Petrotrin. The GTL project was intended to produce for offtake by Petrotrin high quality diesel which would be blended with Petrotrin’s refinery diesel to improve its quality. Given environmental concerns, standards for fuels had been upgraded and Petrotrin ran the risk of not being able to supply markets that adopted the higher standards. This was an intermediate arrangement pending the construction of Petrotrin’s Ultra Low Sulphur Diesel Project…