ST. GEORGE’S, Grenada, CMC – The lately appointed Hydrocarbons Technical Working Group is to submit a report on the technical and financial feasibility of creating Grenada’s hydrocarbon reserves.
As well as, it can even have to supply a report on the potential environmental and social impacts of hydrocarbon exploration and improvement in Grenada, in addition to methods to mitigate these impacts.
Cupboard appointed the working group, chaired by former finance minister Nizam Burke, together with Richard Duncan, the advisor to Prime Minister Dickon Mitchell; Raymond Nurse, a Grenadian geologist residing in Germany; and Rodney George, the chairman of the Grenada Electrical energy Providers (GRENLEC).
A consultant from the Legal professional Basic Chamber and a nominee from Civil Society Organisations (CSO) may also be included within the working group.
Among the many group’s aims is to evaluate Grenada’s hydrocarbon potential absolutely and, if discovered to be commercially viable, devise a technique and motion plan to discover, develop, and monetize such findings for the nation’s profit.
Final month, Governor Basic Dame Cecile La Grenade introduced that the federal government could be establishing a committee to analyze the standing of Grenada’s oil and gasoline, saying then that there was no data supplied through the transition between the earlier authorities and Mitchell administration that got here to energy following the June 2022 basic election.
In an interview with the Authorities Data Service (GIS) following Dame Cecile’s announcement, Prime Minister Mitchell stated that no data could be present in any ministry.
In line with a discover within the October 27 publication of the Authorities Gazette and an area newspaper, the technical group may also be required to develop a communication technique to have interaction stakeholders, together with communities, civil society organizations, and the personal sector, in addition to define suggestions for potential companions and traders, together with a plan to draw and retain them.
“A stakeholder engagement plan that outlines the strategy, mechanisms, and processes for partaking with related stakeholders all through the exploration and improvement course of” can also be included among the many phrases of reference of the technical working group.
In 2021, then-prime minister Dr. Keith Mitchell stated his administration is “not very hopeful” of overseas traders searching for to develop additional the island’s maritime area the place industrial hydrocarbon discover had been confirmed in 2018.
He informed reporters that the worldwide effort in the direction of renewable power on the expense of fossil gasoline might hamper Grenada’s plans for the oil and power sector.
In 2018, St. George’s introduced that hydrocarbons have been present in substantial industrial portions and, that one nicely with thousands and thousands of cubic ft of gasoline was presently being evaluated, and there are a number of different wells to be drilled.
The federal government had additionally introduced then that it had issued a license to the Russian-based International Petroleum Group to conduct the required exploration actions to find oil and pure gasoline throughout the island’s territorial waters. In June 2017, Parliament permitted the Hydro Carbon Exploration Incentive Invoice 2017, outlining a package deal of incentives for oil and gasoline exploration to any firm.
Associated
