[NYTr] PetroCaribe Focused on Energy Security

[All the News That Doesn't Fit]

Agencia Cubana de Noticias (ACN)
http://ainch.ain.cu/mailman/listinfo/ingles


PetroCaribe Focused on Energy Security

Havana, Aug 13 (acn) The Third PetroCaribe Summit came to a close over 
the weekend in the Venezuelan capital with two new members joining the 
group, Haiti and Nicaragua; and the implementation of new measures to 
guarantee regional energy sovereignty.

Speaking at the conclusion of the summit, Cuban Vice President Carlos 
Lage said, "This has been a very productive event and an example of how 
our meetings should be."

Haiti and Nicaragua formalized their membership in PetroCaribe and an 
Energy Security Treaty was signed, similar to one agreed upon the 
previous week between Venezuela, Argentina and Uruguay, reported Granma 
Monday.

The energy accord has five main sections: the participation of the 
Caribbean nations in the exploitation of a block of the Orinoco Oil 
Belt, the installation of refineries, the building of a gas supply 
system, the development of the petrochemical industry, and the use of 
alternative sources of energy and savings.

Grenada, Belize, Cuba, Dominica, Haiti, Nicaragua, St. Vincent and the 
Grenadines, Jamaica, Surinam, and Venezuela signed the treaty, which is 
the first one of its kind in the region.

The Political Declaration, signed by the 16 PetroCaribe members, states 
that energy is a fundamental part of the process towards economic, 
social and strategic integration of the region.

Venezuelan President Hugo Chavez affirmed that energy, particularly oil 
and gas, could be the cornerstone of Latin American and Caribbean 
unity, just as coal and steel were for the European Union.

Venezuela ratified its willingness to share its extensive oil and gas 
wealth with the nations of the area.

Accompanying Chavez at the meeting were presidents, prime ministers and 
government representatives of the PetroCaribe member nations.

Debate centered on proposals for regional energy security as well as 
the rejection of the development of corn-based biofuels proposed by the 
United States. Members also reviewed the progress of projects 
previously adopted under the PetroCaribe framework.

Carlos Lage, who headed the Cuban delegation, repeated the position of 
President Fidel Castro at the founding PetroCaribe meeting when he said 
that Cuba was not interested in the immediate economic advantages but 
rather in helping to first consolidate the organization so it could be 
used as a mechanism to strengthen the smallest economies of the region.

"No other country in the world, only Venezuela, is promoting today such 
a strategic, generous and just initiative," said Lage. He added that 
Cuba is working to contribute its experience in fuel savings, such as 
the successful program to replace incandescent light bulbs with energy 
saving ones, extended to 11 Caribbean countries.

Lage pointed out that in Venezuela the program has already lead to a 
reduction of 1,500 MW in peak demand and in the Caribbean nations has 
amounted to an annual savings of more than $40 million US in fuel and 
$160 million US in investment.

The Cuban leader also spoke about other actions begun under the 
framework of PetroCaribe. He mentioned the joint venture with Venezuela 
for fuel transportation that operates at cost price for the countries 
in the region; and a refinery that will begin operations in Cienfuegos, 
Cuba by the end of 2007.

At the end of the meeting it was announced that Nicaragua will host the 
next PetroCaribe summit at the end of the year.