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T
he island nations that lie on the
perimeter of the Caribbean Sea pay some
of the highest retail electricity prices in the
world, even in the current low-priced oil environment. The
Caribbean remains vulnerable to global oil price fluctuations that
influence the cost of electricity. The Caribbean regional average for 2015
was US$0.33/kWh, but in previous years it has been as high as US$0.50/kWh.
The majority of the electrical energy consumed by these nations is generated by
burning diesel or heavy fuel oil (HFO) in inefficient power plants that utilise older
technology. Although some islands do possess domestic oil and gas resources,
and many have renewable capacity, they are, nevertheless, highly dependent on
imported oil products to satisfy their needs. These countries desperately need
cleaner power generation and the opportunity to diversify their energy supply
portfolio.
Langley Meek,
Excelerate Energy, USA,
presents a logistical solution to
provide island nations in the
Caribbean with LNG.
mentality
Island
