Jamaica’s efforts to get into the LNG import game appear headed for the long grass, again.A first attempt to build a floating, storage and regasification unit-based terminal became mired in controversy with an Exmar-led consortium declared to have been selected unfairly as preferred bidder.A government-appointed steering committee kicked off a second attempt, launching studies and tenders galore.A number of staff changes have since taken place, however, with a new committee chair brought in earlier this year. This team has taken a tough line on project economics.Samsung C&T secured preferred bidder status for the FSRU and two companies were short-listed to supply LNG to the terminal. Beyond that, very little seems to be happening.Rumours are now rife that the energy minister will tell parliament next week he intends to scrap the project. The cost of LNG supply is just too high for the government to bear, claim some.If this turns out to be true there are thought to be back-up plans for the public sector to step in and save the day.The government clearly feels the pressure to get this right, which is commendable.However, a lot of money has been spent and to back out now would be a waste of all that effort.
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Leader: Too far to turn back in Jamaica
Jamaica’s efforts to get into import game appear headed for the long grass, again.
28 September 2012 14:30 GMT
Updated
28 September 2012 14:30 GMT
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