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Regional Efforts Projects and Initiatives Eastern Caribbean Gas Pipeline (ECGP). Initiated in 2002 by the Intra-Caribbean Gas Pipeline Company, the ECGP aims to reduce Eastern Caribbean reliance on petroleum products by supplying natural gas from Trinidad and Tobago for power generation to seven Caribbean islands.10 A 2004 feasibility study concluded that the pipeline was commercially viable for all countries except Grenada and St. Vincent. The project is a public-private partnership with intergovernmental agreements on transit rights, tax regimes, and harmonization of regulatory regimes. It requires an estimated total investment of $500 million. Key issues affecting its development are the timing of the country agreements, the gas supply agreements, the intergovernmental agreements, and the environmental impact.11 In May 2007, the Barbadian Minister of Energy and the Environment, Elizabeth Thompson, announced that she would lead negotiations between the governments of Barbados and Trinidad and Tobago, the National Gas Company of Trinidad and Tobago, the National Petroleum Corporation of Barbados, and the private sector to move ahead with the Trinidad and Tobago-Barbados segment of the pipeline, which would set the stage for other segments to follow.12 Eastern Caribbean Geothermal Energy Project (Geo-Caraïbes). Geo-Caraïbes aims to reduce the dependence on fossil fuels for electricity of three countries with adequate geothermal potential and some of the highest electricity costs in the Americas: Dominica, St. Kitts and Nevis, and Santa Lucia. Endorsed by country governments in 2003, the seven-year, $14 million project is funded by the Global Environment Facility and executed by the United Nations Environment Programme, the Organization of American States, and the Agence Française de Développment. The three principle objectives of the project are to establish a resource base through resource assessments, surveys, and exploration to attract investors; to improve financial viability using a Risk Reduction Financing Tool to mitigate risk for developers; and to promote institutional strengthening and capacity building to reduce the institutional, legal, and regulatory barriers to geothermal energy development.13 As of mid-2007, the Organization of American States has been trying to raise $10 million for exploration and drilling following the Nevis Island 9PDF Image | Prospects for the Oil-Importing Countries of the Caribbean
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