PDV St. Kitts/Nevis officially opens Office
PetroCaribe Agreement solidified

By VonDez Phipps
Reporter-SKNVibes.com

(L-R): Alexander Nikolic, General Manager of JVC; H.E. Cruz Bello, Ambassador of Venezuela; Hon. Dr. Denzil Douglas, PM of St. Kitts/Nevis; Hon. Dr.Asim Martin, Minister of Public Works, Utilities, transport and Post

Members of the Diplomatic and Consular Corps from St. Kitts-Nevis and Venezuela and many government officials attended the two-hour long ceremony which solidified the strong bonds between the two countries.

In his overview of the PetroCaribe Agreement, Alexander Nikolic, General Manager of Joint Venture Corporation (JVC), explained that it provides a different leadership borne out of a brotherhood or fairness and reduces the unfair treatment that small countries have been subjected to due to fuel prices, trade disputes and the lack of resources.

Nikolic provided a detailed outline of the PetroCaribe Agreement which the Federation has signed on to since mid-2005.

“PetroCaribe is a partnership between Venezuela and Caribbean countries where they can buy oil at a reasonable market price where they have to pay only 40 percent of the value upfront and then 60 percent over a 25-year period with a one percent interest rate. About 294 000 gallons of fuel has been delivered to the country in 2005 and has continued to supply 100 percent of fuel to generate energy from this agreement.”

The General Manager also revealed that JVC would be investing in a tank farm with a 50 000-barrel capacity for storing fuel and added that there are also plans of providing a full megawatt generator to the country.

He further revealed that over a seven-year period the country should be able to save US$500 000 and should witness the construction of over 350 homes, which will both be used to ensure social development.

Minister of Public Works, Utilities, Transport and Post Hon. Dr. Asim Martin opined that the ceremony marked the hard work and sacrifice that was placed into the agreement.

“The Agreement was signed with apprehension because many countries were not sure if Venezuela would really fulfil the Agreement. But, today, I’m proud to say that Venezuela has lived up to the Agreement; in fact, they have gone beyond [the Agreement].”   ~~Adz:Left~~

Minister Martin declared that he is in full support of any effort geared to reduce the price of energy, and outlined the work of the local government which reflects this support.

He mentioned the ties with Cuba with the supply of energy saving light bulbs and also highlighted that citizens who consume less than 150 kilowatts of electricity would not pay the surcharge in order to accommodate those who could least afford. Martin indicated that his ministry is in the process of converting the Merlese generators to use heavy fuel, which is 40 percent cheaper.

Prime Minister of St. Kitts and Nevis Hon. Dr. Denzil Douglas also addressed the gathering and announced that the ceremony represents another milestone in addressing energy issue and the solidarity in the partnership between the Federation and Venezuela.

He requested that the boardroom in the building be named in honour of the deceased Ambassador to Venezuela, Fred Lam.

Dr. Douglas said the office should play an important role in the arrangements for the import of fuel and views the opening as “an opportunity to advance the cause of social development”. He further stated that the ceremony may be used as an example of reference to the nation’s independence and serves as a “fitting reminder of the power and flexibility to negotiate for the people of our nation”.

Prime Minister Douglas informs that now, and in the near future, the focus would be on energy as the government tries to assist consumers with the high prices of energy, noting these efforts should bring a “high quality of life of peace and productivity” for the people of the nation.