Head of the Government-Appointed Committee established to examine the feasibility of restarting the Pointe-a-Pierre Refinery, former Energy Minister Dr. Kevin Ramnarine, says the facility can be restarted.
Dr. Ramnarine, a Fellow of the Energy for Growth Hub, spoke on the feasibility of restarting the refinery during the Annual Post-Budget Meeting hosted by the Trinidad and Tobago Chamber of Industry and Commerce on Tuesday.
“The level of deterioration of the refinery is more than it should have been because of the short-term application of the preservation, right? The Committee has concluded that the refinery can be restarted in phases.”
Dr. Ramnarine said when the facility was shut down seven years ago, it was anticipated that the closure would only be for a short time.
“We’ve worked out five phases to restart the refinery. I wouldn’t say what these phases are, but the refinery can be restarted. The level of deterioration is more pronounced in the older plants than in the newer plants.”
He said to attract investment in the energy sector, several challenges must be addressed.
“One of the major obstacles to investment in the energy sector is ease of doing business. If you think of ease of doing business is a problem in manufacturing and services and so on, because the energy sector is so highly regulated it is even more burdensome.”
Dr. Ramnarine explained that drilling a simple well in South Trinidad requires 30 different approvals.