Jamaica: Government will Ensure Strong Regulatory Framework to Protect Consumers-Aim of LNG Project-PM Golding

Prime Minister Bruce Golding said the Government will ensure that a strong regulatory framework is put in place to protect Jamaican consumers with the LNG project which will deliver energy at a far more competitive price.

PM Golding was answering questions from Opposition spokesman on Energy, Phillip Paulwell at Tuesday’s, February 1, sitting of Parliament.

“A very strong and compelling case would have to be made for government’s involvement rather than private sector ownership.”

“The use of natural gas has been the subject of intense controversy even among the technical personnel and it is for that reason that the Government said we want to seek another opinion” the PM continued.

He said he sought the assistance of the World Bank to provide a Consultant who would provide this additional opinion. “That Consultant met with me, persons at the Ministry of Energy and Mining including the Minister and after they had finalized their report they met with me and the Minister again” Mr. Golding explained.

The Prime Minister said that the final recommendation of the Consultant was that the better option would be to correct deficiencies of the project so that the process can move forward. He added that the Consultant endorsed the selection of gas, the FSRU technology and also recognized that the firm which was selected for the competitive process to provide the FSRU facility. Exmar Consortium was the most eminent entity in the world to provide that facility.

PM Golding explained that he had assumed oversight of the management of the project because it involves a number of Government agencies. However, he said the Minister of Energy and Mining, James Robertson still maintains responsibility.

[mappress]

Source:  opm.gov, February 3, 2011;