PHILIPSBURG--St. Maarten is highly dependent on fossil fuel, a commodity that is becoming scarce and volatile in price. These factors have led the Ministry of Economic Affairs and Tourism to look into alternative energy resources, such as Liquefied Natural Gas (LNG), Minister Franklin Meyers told Parliament on Thursday.
Speaking in the Central Committee meeting requested by the National Alliance (NA) on consumer protection and price control, Meyers said LNG was cost-effective and would result in a significant reduction in consumer bills, in particular for electricity.
It is a long-term measure, as reduction in cost will be noticed one to two years after initial investments, he pointed out. Utilising natural gas offers many benefits compared with traditional petroleum-based fuels like diesel fuel and gasoline.
"LNG tends to better maintain price stability and is environmentally friendly. The combination of lower cost and improved price stability makes natural gas an attractive business option for high fuel consumption," Meyers said.
On average, the price for natural gas is "significantly cheaper" than that for heavy fuel.
Trinidad has one of the world's largest caches of LNG. This puts a major supplier within reach of St. Maarten once all mechanisms are in place to aid the transport and usage.
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