PM Rowley says natural gas deal with Venezuela crucial to T&T quality of life

By Halshane Burke   

 

Prime Minister of Trinidad and Tobago Dr. Keith Rowley has again defended the government's decision to partner with Venezuela for natural gas production and exploration.

 

Trinidad and Tobago has been granted a 20-year licence by the Venezuela government.

 

Dr. Rowley says the current reserves of the twin island republic are on the decline and a new source was needed to ensure the economic viability of the country. 

 

"We really need to appreciate what it means to have additional gas supplies because, without it, the bills that we are paying now for the quality of life that we enjoy will not be available, and it is not to be taken lightly that the government as a standard practice allocates in a budget of approximately $50 billion that five and a half billion dollars of that is cash that goes out to some people every month. So if the revenue stream in the country begins to be significantly reduced or even say drying up then those are the kinds of things that will disappear from the lifestyle in Trinidad and Tobago," he warned.  

 

Dr. Rowley was speaking at a press conference on Thursday.