PORT-OF-SPAIN, Trinidad, Thursday, March 28, 2013 – Construction of the long-anticipated Eastern Caribbean Gas Pipeline is slated to begin in 2014 from the Cove Eco Business and Industrial Park in south-western Tobago.
This announcement has come following a meeting between Tobago Chief Secretary Orville London, Beowful Energy Principal Andy Lindholm and Clyde Williams, technical coordinator for the Eastern Caribbean Gas Pipeline Company (ECGPC).
According to the company, the first phase of the US$300 million project will end in Barbados with natural gas expected to be pumped into Barbados in 2016 from the BHP Billiton field east of Trinidad to the Cove, which is a US$1 billion processing plant.
In Phase I of the project, ECGPC will construct and operate a 300km natural gas pipeline from the Cove Point Estate in Tobago to Barbados. Phase II of the project will involve extending the pipeline from Barbados to other Eastern Caribbean islands.
Beowulf Energy of New York and First Reserve Energy Infrastructure Fund with offices in Greenwich, Houston, Hong Kong and London, have acquired a majority interest in ECGPC.
According to Greg Rich, the company’s chief executive officer: “The extensive energy infrastructure experience and substantial financial resources of Beowulf and FREIF will accelerate the implementation of this regionally important project thereby creating long term value for the company’s investors while delivering tangible financial and environmental benefits to the islands served by the pipeline.” Click here to receive free news bulletins via email from Caribbean360. (View sample)