PM says newly commissioned LNG terminal will reduce energy costs

Prime Minister Andrew Holness says the newly commissioned Floating Storage and Regasification Terminal,demonstrates that the country is conscious about protecting the environment, and is committed to reducing energy costs.

Holness, who was speaking at a ceremony on Friday to officially unveil the terminal at its location just off the coast of Old Harbour Bay in St Catherine said this now establishes Jamaica as a premier liquified natural gas (LNG) hub.

A large ship, called the Golar Freeze, is attached to the terminal, which is 3.6 miles out at sea.

“We are demonstrating that we can put in place the necessary investments, build infrastructure that both reduces the cost to the consumer, but most importantly, reduces the cost to the environment, and I think this is a good example of that. It’s a win-win for all,” he said.

The prime minister noted that this latest introduction of LNG supply in the country is in line with Jamaica’s energy policy, which calls for the development of its energy resource potential to enhance international competitiveness and energy security, whilst reducing carbon footprint.