The St. Maarten Harbour Group of Companies has retained the services of the Caribbean Branch Office TNO (based on Aruba) to develop a fuel strategy roadmap.
The objective of this study is to assess the current energy situation and prepare a roadmap that informs future investments.
Earlier in the week Harbour Group of Companies Chief Executive Officer (CEO) Mark Mingo led a team to St. Eustatius where they had discussion with officials from Nu Star Energy Oil Storage Terminal.
The oil terminal has a capacity of storage of sum 13 million barrels and is also a transhipment facility. This facility is capable of handling a range of petroleum products, including crude oil and refined products.
"The Harbour Group of Companies takes a strategic look at the country’s long-term development, and at the same time being innovative in our planning and outlook. The alternative fuel study is just another area and a step ahead that must be researched.
"The global fuel market is price sensitive. Political uncertainty can push crude oil prices up which we have seen before and this influences the cost of living and the cost of doing business on our island. Apart from geopolitical events, gas markets and prices are also being driven by longer-term demand and supply dynamic.
"At the port we carefully monitor and study trends in the maritime sector. The maritime industry is responding to call to adopt environmentally-friendly solutions for fuel; Liquefied Natural Gas (LNG) has the potential to be a cleaner alternative to marine diesel.
"Like any professional company, the harbour group continue to keep a keen eye on market trends. We need to study what is coming ahead so we can continue to chart our future moving forward as a port and as an industry," St. Maarten Harbour Group of Companies CEO Mark Mingo said.
The Port of St. Maarten is an important regional player in fuel distribution. New developments such as a shift from heavy fuel oil to LNG for shipping and power production are expected to have impacts on future needs. In addition, increased production of renewable energy such as from wind, solar and possibly geo-thermal could change fuel demands.
This study aims to establish a foundation for informed decision making concerning future fuel storage and distribution infrastructure. The first phase of the study will focus on an assessment of the current fuel situation on St. Maarten (including the French side) and regional and international developments.
Part of this effort will include identifying and involving key stakeholders. Following this initial assessment a strategy will be developed to meet future energy needs and position the Port to continue to play its regional role.
This study is carried out with the support of both the St. Maarten and the Dutch Ministry of Economic Affairs. TNO and the St. Maarten Harbour Group of Companies aim to develop a long-term working relationship in which TNO will bring expertise and help build capacity in a variety of technical areas.
TNO, with over 3800 scientists, is the largest applied research institute in the Netherlands and third largest in Europe. In 2011 TNO opened a branch office on the island of Aruba.
A key focus of this office is to work on integral island strategies aimed at amongst other developing more sustainable, reliable and affordable energy systems. TNO brings a wide range of expertise to this effort including renewable energy systems, LNG transport and distribution as well as business and strategic advice concerning fuel infrastructure investments.
PHOTO CUTLINE: CEO Port of St. Maarten Mark Mingo (2nd from right) with other Harbour Group officials and a representative of Statia Oil Terminals.