17,500 units will be converted
Trinidad and Tobago invests nearly US$80 million in natural gas vehicle project
Minister of Energy Kevin Ramnarine announced that part of the initiative will be undertaken by the National Gas Company (NGC), which will develop phase one of a two-phased five-year CNG plan for all vehicles in the country. “Natural gas has been an alternative to gasoline and diesel as we have significant reserves,” he said.
Phase one of the project will involve the transition of 17,500 vehicles, including maxi-taxis, buses, government vehicles and high mileage vehicles, to CNG. According to Ramnarine, the cost for the conversion will be covered by the NGC, which will invest $500 million (US$78 million), as there will be no cost to the state agencies. For this, a subsidiary company of the NGC will be launched.
The second stage, which has not been approved yet, will involve the construction of 22 natural gas stand-alone stations and the installation of pumps in existing fueling sites. The Minister also explained that when both phases come on stream the price of CNG would be reduced.
“The benefit is a saving in subsidy for the Government. In 2012, the fuel subsidy was $404 billion. If we reduce it we can do other things. It would also free up the fuel usually used locally for export. Besides, CNG is a low carbon fuel, known as a green fuel,” Ramnarine said.
Source: Government of the Republic of Trinidad and Tobago