The Caribbean region, particularly the island countries, is in need of a new energy paradigm. The region relies heavily on oil-based fuels for generating electricity. As a result, electricity costs in the Caribbean are among the highest in the world, and fluctuate greatly with the global price of oil.
With the objective of identifying ways to diversify the energy matrix of Caribbean countries, the Inter-American Development Bank has commissioned a study to analyze the feasibility of establishing a competitive, commercial supply chain for natural gas in the Caribbean region.
To present the results of the preliminary study to the governments and electricity utilities in the region, and garner feedback, the IDB is organizing a technical workshop focused on the development of a natural gas market. This workshop will be an opportunity for government officials, power utilities and natural gas stakeholders to discuss the options presented and, as such, direct the completion of the study so that it might lead to concrete steps toward the diversification of the energy matrix.
For further information about the potential market for natural gas in the Caribbean, check out the following IDB publication:
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