St. Kitts – Nevis PM At PETROCARIBE Summit

Basseterre,St. Kitts – Nevis
August 9th 2007 (CUOPM)

St. Kitts and Nevis‘ Prime Minister Hon. Dr. Denzil L. Douglas is leading the twin-island Federation’s delegation to the Third Summit of PETROCARIBE in Caracas, Venezuela.

The Summit on Saturday in Caracas marks a solid step forward for the energy cooperation initiative promoted by Venezuela to confront soaring oil prices and speculation by promoting regional integration.

Other members of the St. Kitts and Nevis delegation include Minister of State for Finance, Information, Technology and Sustainable Development, Sen. the Hon. Nigel Carty; Chief Secretary, Mr. Joseph Edmeade and Permanent Secretary in the Ministry of Public Works, Utilities, Transport ands Posts, Mr. Oaklyn Peets.

According to Venezuela’s state-run Petroleos de Venezuela S.A. (PDVSA) officials, St. Kitts and Nevis is among fourteen countries down to attend the meeting of energy ministers and specialist to evaluate current energy markets, their influence on importing nations and the advance of existing projects.

The agenda includes finding ways to revert asymmetric fuel access, boost fair exchange, and promote energy policy coordination, technological cooperation and alternative energy sources.

Current PETROCARIBE members are Antigua and Barbuda, Bahamas, Belize, Cuba, Dominica, Grenada, Guyana, Jamaica, Dominican Republic, St. Kitts and Nevis, St. Lucia, Suriname, St. Vincent and the Grenadines and Venezuela.

Since its inception, PETROCARIBE has helped set up joint ventures among member states, increasing cooperation to include projects to expand oil and petroleum derivatives storage, and distribution infrastructure.

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