On September 18, 2024, three state agencies in Trinidad and Tobago signed a Memorandum of Understanding (MOU) to collaborate on establishing the Caribbean’s first low-carbon bunkering hub by 2026.
The MoU — signed by the National Energy Corporation of Trinidad & Tobago Limited, Trinidad & Tobago National Petroleum Marketing Company Limited (NP), and Paria Fuel Trading Company Limited— will be overseen by the Ministry of Energy and Energy Industries.
The initiative aims to supply low-carbon marine fuels, such as methanol, to ships in the region. A feasibility study will be conducted, expected to conclude by April 2025, which will then guide the project’s implementation.
The signing agencies expressed confidence in the country’s readiness. The National Energy’s chairman highlighted the organization’s experience, referencing the 2023 introduction of the nation’s first low-emission tug. Meanwhile, NP Chairman, Sahid Hosein, emphasized that infrastructure upgrades, such as the restoration of the Sea Lots Channel, have prepared their facilities for larger vessels using alternative fuels.
Paria Chairman, Newman George, added that the company’s infrastructure and expertise would help drive efficient operations for both petroleum and cleaner fuels. This hub aligns with global environmental trends, potentially attracting more vessels, creating jobs, and generating new revenue streams.
