Home' Trinidad and Tobago Guardian : September 17th 2014 Contents A19
• Twitter: @GuardianTT • Web: guardian.co.tt
One of the world's largest telecommu-
nications company, Huawei of China,
which has been banned from doing busi-
ness with United States companies as a
result of spyware discovered in some of
its devices, has expressed an interest in
doing business in Antigua and Barbuda.
During an official visit to China, Prime
Minister Gaston Browne met with mem-
bers of the management team of the
multi-billion-dollar telecoms company and
discussed avenues of co-operation in An-
tigua and Barbuda.
Browne informed the Huawei execu-
tives that his government is determined
to create an environment in Antigua and
Barbuda that is conducive to profit gener-
ation and ease of doing business. He
noted that the country's tax structure will
be restructured to favour investments.
The prime minister also outlined that
Antigua and Barbuda is poised to become
the economic powerhouse under his ad-
ministration and it will be the gateway for
conglomerates such as Huawei to enter
Latin American and Caribbean markets.
During the meeting, Huawei announced
it will be putting together a team to visit
Antigua and Barbuda by mid-September
to explore the possible collaboration with
APUA PCS and the establishment of mo-
bile, internet and cable television services.
(Caribbean News Now)
US banned Chinese telecoms giant looking at Antigua-Barbuda
New petroleum discoveries
would lead to a great future for
T&T, said Errol Mahabir, former
minister of petroleum and
mines, who served in the 1970s
under the Eric Williams admin-
Mahabir was at the time
speaking at the National Energy s
(NE)---formerly National Energy
Corporation s---35th anniversary
celebrations at the Hilton
Trinidad Hotel and Conference
Centre, St Ann s, on September
13.It was under Mahabir s stew-
ardship that the then National
Energy Corporation and the
National Gas Company was
Mahabir said the Energy Min-
istry headed by Minister Kevin
Ramnarine is in excellent hands
and described Ramnarine as a
man well respected in the indus-
try.Mahabir said he was elated to
see that energy companies were
being led by competent nationals
"I am quite sure that the pro-
grammes that are in place right
now will bring great fruits in the
years ahead. With the new drilling
programmes that are starting, for
example, especially in offshore
areas and the border gas with
Venezuela, those have been
described in the oil industry as
game changers. If those game
changers come and bear fruit,
then the future of T&T is great."
Ramnarine said he is certain
the exploration being conducted
on the east coast will reveal more
petroleum resources. Ramnarine
said he is expecting larger finds
of oil than gas. He said drilling
will not commence until 2016.
He said once discoveries are
made, production would not start
Ramnarine also sought to clar-
ify errors made in two daily news-
papers; not the T&T Guardian.
He said it was previously reported
that NE spent US$5 million to
construct the Port of Galeota.
He said NE in fact spent US$85
million and completed the job on
time and within budget. Ram-
narine said this port would pro-
vide services for oil companies
operating in the east coast and
was the only new port built in 17
He said the US$2.1 billion
Juniper drilling project should
provide heavy activity in the
Union Industrial Estate where
fabrication would be taking place.
Ramnarine said NE had done well
in the last 35 years in fulfilling its
mandate to open new opportu-
nities in the sector and provide
Chairman: NGC profits
up more than 200%
Profits at state-owned National Gas Company
(NGC) have increased by more than 200 per cent
over the past four years, its chairman Roop Chan
Chadeesingh has said.
Chadeesingh said the jump in revenue by the state
enterprise was a direct result of the effective policy
decisions taken by the board and the quality work
of the executive management team.
He was speaking at Monday s media conference
held at Jaffa Restaurant, Queen s Park Oval, on Tra-
garete Road, Port-of-Spain, to announce the com-
pany s increased allocation to the Arima race Club s
Republic Day Derby at Santa Rosa Park, Arima.
"Natural gas is involved in everything that is positive
for T&T. We all know that Petrotrin is not doing too
well recently and the NGC is the flagship company
of T&T. This year was our best year in terms of rev-
enue. This year, before taxes, we made $8.39 billion
in profits. I don t want to blow our own trumpet,
but when we took over in 2010, profits were $3.9
billion before taxes," he said.
Chadeesingh added, "NGC currently produces
about four billion cubic feet of gas. Two billion goes
to Atlantic where we have four trains that sell energy
to the whole world. The other two billion comes to
the industrial estate in Point Lisas and out of Point
Fortin, we have a number of plants: urea, ammonia
and methanol plants. We supply gas to the steel plant.
We supply gas to PowerGen. All of our power in T&T
comes from natural gas."
The energy official praised the vision of Errol
Mahabir, former minister of petroleum and mines
under the Eric Williams administration, who four
decades ago, pioneered the idea of an energy estate.
Former energy minister Errol Mahabir:
New drilling programmes
are 'game changers'
Errol Mahabir, left, former minister of petroleum and mines who
served in the 1970s under the Eric Williams administration, accepts
a plaque of the Port of Galeota from Energy Minister Kevin
Ramnarine. PHOTO: SHASTRI BOODAN
Links Archive September 16th 2014 September 18th 2014 Navigation Previous Page Next Page