Home' Trinidad and Tobago Guardian : July 3rd 2014 Contents JULY 2014 • WEEK ONE www.guardian.co.tt BUSINESS GUARDIAN
COMMENTARY | BG17
The Energy Chamber has long
recognised the need for our
local energy services compa-
nies to export their expertise
regionally and globally.
The Guiana Basin, due to its proximity and
potential, has several opportunities for the
energy services sector and our companies
must find ways to develop mutually beneficial
partnerships in these countries. As such the
Energy Chamber has just returned from its
fourth energy services trade mission to Suri-
name. This last visit was co-ordinated to
coincide with Suriname s first energy and
mining conference, Surimep.
This latest trade mission was the largest
ever for the chamber. There were 28 people
in the delegation representing 18 companies,
including the Energy Chamber and ExporTT.
ExporTT has been a willing partner with the
Energy Chamber as we work towards our
strategic goal of exporting energy services
regionally and internationally.
For the Energy Chamber, these trade mis-
sions are a vital marketing tool. It is an oppor-
tunity to reach potential customers, meet
with pre-screened companies, generate inter-
est exposure/visibility, distribute information
on their companies and develop key contacts
and, in time, tangible business opportunities.
From the past trade missions, we have realised
there is no substitute for personal contact,
despite communications tools like e-mail,
telephone and video-conferencing.
Trade missions represent a commitment
by participating firms to their potential busi-
ness partners; essentially these visits cultivate
relationships which is still an important part
of doing business. From the large delegation
we realise that companies are also realising
the importance of such directing marketing
The Surimep conference also gave com-
panies the opportunity to highlight their serv-
ices. For instance, National Energy along with
the chamber s delegation also booked a booth
at Surimep and sponsored the event. Overall,
T&T was well represented which was key in
showing our commitment to working with
our Caricom neighbour.
The Surimep conference, even though it
was the first conference of its kind in Suri-
name, was able to attract more than 500
regional and international delegates as well
as 45-plus exhibitors. This offered excellent
networking opportunities for our delegates.
By working with the Suriname Chamber of
Industry and Commerce, the Energy Chamber
also set up additional meetings for members
on the delegation.
The highlights of the visit included the
opportunity to meet with the vice president
of Suriname, Robert Ameerali, a meeting
with Staatsolie as well as meeting with
EnergieBedrijven Suriname (EBS), which is
the state electricity company in Suriname,
where companies such as Phoenix Park Gas
Processors (PPGPL) and the National Petro-
leum Marketing Company were presented
with almost immediate business opportuni-
The delegates also met with the honorary
consul of T&T in Suriname, Rudie Tjong A
Hung, who also happens to be a tax consultant
and was able to offer valuable insight on
Suriname s taxation policy and labour laws.
In this meeting, the discussion centred on
the fact that Suriname has not signed on to
the double taxation treaty with T&T and, as
such, T&T companies operating in Suriname
are expected to pay taxes at source as well
as in T&T, which some have argued makes
them uncompetitive. The Energy Chamber
and ExporTT will be working together to
ensure this matter gets resolved.
As it relates to Staatsolie, delegates were
able to get an overview of the refinery expan-
sion and were also given a tour of the refinery.
There are some local companies that are
already doing work with Staatsolie, but there
are additional opportunities for service com-
panies and these were discussed with the
delegates on the trade mission. The expanded
refinery will soon be capable of processing
more than 15,000 barrels per day. With the
refinery expansion completed, Suriname is
now aggressively pursuing exploration activ-
ities. Services associated with exploration
would be in high demand and T&T companies
are well poised to take advantage on these
opportunities based on their experience, rep-
utation and geographical proximity.
Overall, the feedback from delegates was
According to the representative from
PPGPL, The Energy Chamber s trade mission
to Suriname presented a valuable opportunity
for PPGPL to strengthen its connections with
key contacts in this market. Participation in
the mission also allowed PPGPL to scan for
future growth opportunities. Suriname cur-
rently does not have natural gas reserves.
However, with the current offshore deepwater
exploration activities, there is optimism of
gas finds and related opportunities in the
emerging Suriname gas sector.
T&T s hydrocarbon resource and, in par-
ticular, its natural gas have enabled it to become
the most industrialised Caribbean nation. Given
the maturity of the energy sector in T&T, its
natural resources are supported by a large
number of skilled and well trained people.
There are large numbers of service companies
which provide support services to the major
producers. These companies are highly expe-
rienced and have gathered world-renowned
reputations. The country is poised to become
a regional hub for the export of energy services.
The Energy Chamber remains committed
to assisting these local companies to export
their services regionally and internationally.
Energy Chamber's fourth trade mission to Suriname:
Gateway to business opportunities
The companies that participated in
the trade mission are as follows:
The National Petroleum Marketing Company
Phoenix Park Gas Processors Ltd
Kenson School of Production Technology
HHSL Safety Systems Ltd
Fluid Technology Worldwide Inc
The National Gas Company
The Ministry of Energy and Energy Affairs
The Energy Chamber of T&T
Tucker Energy Services Ltd
Geological Society of T&T
Cargo Consolidators Agency Ltd
Links Archive July 2nd 2014 July 4th 2014 Navigation Previous Page Next Page