Trinidad and Tobago could soon be looking to India for support in revitalising key parts of its energy sector.
A newly formed business federation says Indian State energy companies may have a role to play in restarting the Guaracara refinery and participating in future upstream projects.
Speaking on the T&T Today morning show, Dr. Vaalmikki Arjoon said India’s growing demand for energy and its experience managing international oil and gas assets make it a natural strategic partner.
He pointed specifically to the refinery restart, noting that Indian firms already operate across multiple jurisdictions.
“We’ve already committed to restarting the Guaracara refinery and there is a natural role for the Indian State energy companies here. So for example, companies like the Indian Oil Company, ONGC Videsh, they have refinery management experience that they can utilise or we can utilise to partner with local entities here to get the refinery kickstarted again, because they can bring in the capital, the operational expertise, etcetera, the technical expertise to get it restarted and operational for some time. And very importantly, quite critically, they have the appetite for international energy investments.”
Beyond refining, he also suggested that inviting Indian companies into Trinidad and Tobago’s upstream bid rounds could increase competition and capital flows, particularly as the country works to reverse declining gas production.
“I think it would be quite beneficial for us if Indian companies show up and are invited to participate in our upstream bid rounds, because the more competitive our bid rounds are for our blocks, especially the deepwater blocks, then it could possibly mean better fiscal terms for the State when we have to design it, because it’s more competitive. And also, more and more critically, more capital flowing into the country or available to the country’s energy sector to help reverse our decline in gas production at a faster level.”
India is currently one of the world’s largest energy importers. The federation argues that deeper commercial ties could create a mutually beneficial arrangement, strengthening Trinidad and Tobago’s production capacity while helping India secure long-term supply.