Three State Agencies have signed a Memorandum of Understanding to position Trinidad and Tobago as the Caribbean’s first low carbon bunkering hub.
National Energy Corporation of Trinidad & Tobago Limited (National Energy), Trinidad & Tobago National Petroleum Marketing Company Limited (NP), and Paria Fuel Trading Company Limited (Paria), are the entities that were involved in the signing. The three State bodies fall under the oversight of the Ministry of Energy and Energy Industries.
The MOU commits National Energy, NP, and Paria to conduct a feasibility study to evaluate the potential to supply low-carbon marine fuels, such as methanol, to ships operating on trade routes throughout the Caribbean. That study is expected to conclude by April 2025, after which an implementation plan will be developed with the goal of making the hub operational by 2026.