ELECTRICITY conservation may yield higher savings than including liquefied natural gas (LNG) in the energy mix.
High capital requirements to set up infrastructure, heavy supply contract obligations and fierce competition among buyers of LNG could result in little savings, according to a recent World Bank report.
  An LNG offshore terminal designed for unloading, storage and regasifying liquefied natural gas. High capital requirements to set up infrastructure, heavy supply contract obligations and fierce competition among buyers of LNG could result in little savings, according to a recent World Bank report. 1/1  |
Jamaica hopes to save US$300 million ($27 billion) annually from switching from oil to gas.
But that's if it can get cheaper LNG.
On the other hand, lowering electricity consumption by 10 per cent could save $13.8 billion a year. And using fatter power lines as well as switching off transformers in periods of low demand could save another $5.7 billion.
The Government has initiated a US$90 million ($7.8 billion) energy-saving programme aimed at improving efficiency across the public sector.
Electricity consumption in the public sector is set to exceed $13.4 billion this year, but the new programme is expected to save $3.2 billion annually.
The first phase, which will cost US$20 million, is to be implemented over the next four years.
Meanwhile, local distributor Jamaica Public Service Company (JPS) has already ordered a 360 megawatt electricity generation plant that will be fired by natural gas. And the LNG Steering Committee last month selected Samsung C&T to build a floating regasification and storage facility in Old Harbour, St Catherine.
Read more: http://www.jamaicaobserver.com/business/World-Bank-questions-LNG-strategy_12042497#ixzz22UCnLzKG
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