The Minister explained that for over 60 years, Shell has been a pioneer in LNG and today has a leading integrated gas and LNG business, from producing gas, liquefying gas, trading and shipping it, then turning the LNG back into gas and distributing it to customers. Further, she said, Shell is one of the world’s leading LNG suppliers, trading 67 million tonnes of LNG in 2023, around 16 percent of the global LNG market.
Continuing: “The partnership between BPL and Bahamas Utilities Holdings Limited is representative of a strategic solution that has proven to be effective and successful in transforming the energy market.
“As a small island developing nation, we must embrace partnerships to grow and deliver meaningful benefits for the Bahamian people. And if we are to be honest, several of our nation’s most successful projects have been birthed through partnerships – Atlantis, Baha Mar, and Lynden Pindling International Airport all stand as testaments to the value of positive partnerships.
“By partnering with reputable companies – those with international experience and proven track records of success, we firmly believe that a brighter energy future for our nation will be secured.
“And let there be no doubt, that as we partner with international companies, we are also resolute on creating opportunities for Bahamian businesses.
“We are proud that all the successful partners for the renewable projects in New Providence and the Family Islands are at least 51 percent
Bahamian owned – and in some instances 100 percent Bahamian owned.”
Minister Coleby-Davis said more of the energy vision and plans will be shared in the near future, and pointed out some significant steps that have already been taken, including: “the passage of the Electricity and Natural Gas Acts, the implementation of the Equity Rate Adjustment initiative at BPL which zero rated the base rate for the first 200 kilowatts of electricity for all residential consumers, the expansion of renewable energy projects in Schools, and the selection of independent power producers to build utility scale renewable energy power in the Family Islands.”
The energy transformation is a journey towards positive and meaningful lasting results, she said, and promise of a brighter energy future, eliciting for households, lower power bills; for large businesses inventory expansion and the hiring of additional staff, and for small and medium sized businesses, improved cash flows and profits.
(BIS Photos/Anthon Thompson)
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Publish date : 2024-11-09 14:57:00
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