Energy Minister Stuart Young has shot down claims from the Opposition that the Government is selling out parts of the country’s energy sector to multinational entities.
In fact, Young assured that this country only stands to benefit from the restructuring of Atlantic LNG (ALNG).
He made the comments while responding to the claims made by Opposition Senator Wade Mark in the Senate on Friday.
“An absolute figment of the Opposition’s imagination,” the Energy Minister stated in defending the restructuring of Atlantic LNG.
Saying that such an exercise began four years ago, Young said the Government at every stage of progress, has also informed the nation about what was taking place regarding Atlantic.
He added that discussions regarding the restructuring involved discussions with ALNG’s main shareholders BP and Shell.
According to Young, negotiations are currently in the final stages, adding that “at the appropriate time, the necessary information, when completed, will be provided in full transparency, that is permissible to the population.”
He noted that these negotiations, however, were confidential, commercial agreements that are currently being discussed.
The Energy Minister added that the final shareholding in ALNG will be an increased benefit to the people of T&T, at no additional cost.
Young also chastised the UNC for failing to negotiate “a single gas sales contract” when the party was in power.
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