News

Trinidad, Japan’s Mitsubishi Sign Agreement on Petrochemical Project

By: Caribbean Journal Staff - April 9, 2013

Above: Port of Spain

By the Caribbean Journal staff

Trinidad’s government has signed a development agreement for the establishment of a group of petrochemical plants at the Union Industrial Estate in La Brea.

The plants will produce methanol and dimethyl ether.

The agreement is a partnership between Trinidad, the Mitsubishi Gas Chemical Company Incorporated, Mitsubushi Corporation, Neal and Massy. A joint venture, Caribbean Gas Chemical Limited, was formed for the first phase of the project.

The initial project will spend a proposed amount of $850 Million, with approximately 3,000 construction jobs projected along with 180 permanent jobs.

The first stage of the plant will produce 1 million metric tonnes each year of Methanol, with 100,000 tonnes per year of DME. During phase two, Mitsubishi will consider the production of Mono Ethylene Glycol from Syngas and/or Ethane extraction, according to the Energy Ministry.

Commercial operations are scheduled to start in the fiscal year 2016, according to Mitsubishi.

“This project presents several distinct but unique opportunities for Trinidad and Tobago with respect to the further diversification of the energy sector, growth of the economy, development of the South Western peninsula, regional energy security and local content,” said Energy Minister Senator Kevin Ramnarine.

Mitsubishi and Mitsubishi Gas Corporation will sell the methanol produced to the to the global market. They will also work to promote dimethyl ether in the Caribbean as an alternative to diesel fuel.

“The Trinidad and Tobago energy journey is far from over,” Ramnarine said.

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