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Prospects for the Oil-Importing Countries of the Caribbean

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Prospects for the Oil-Importing Countries of the Caribbean ( prospects-oil-importing-countries-caribbean )

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• Collaborating with CREDP to launch a technical cooperation program on expanding biofuel opportunities in Guyana, Jamaica, and Barbados through carbon finance • Conducting an assessment of the environmental and social dimensions of biofuels to support domestic strategies in the sector • Supporting infrastructure projects, including energy infrastructure, through the new Infrastructure Fund. In parallel with the recent energy sector focus in the region, the IDB has conducted research on the global biofuels and renewable energy market through such publications as A Blueprint for Green Energy in the Americas: Strategic Analysis of Opportunities for Brazil and the Hemisphere. Featuring: The Global Biofuels Outlook 2007. It also has recently conducted a general assessment of the Caribbean energy sectors with a country focus on Jamaica, Guyana, Barbados, and Trinidad and Tobago.32 This research addresses many of the policy priorities described in the previous section and the program focus described above by President Moreno, but also leaves great room for research in the region. • The IDB should focus its research on enhancing regional integration, especially through small-scale trading of natural gas between Trinidad and Tobago and the rest of the Caribbean. Particularly important for IDB research is how technological advances in compressed natural gas transport can increase small-scale trade in the region. • The IDB should also investigate ways in which it can provide financing to the region to stabilize energy prices. A price stabilization fund is a specific option that deserves further study. • Infrastructure development is inextricably linked to regional integration. Further research in the following areas would enable the IDB to take full advantage of the newly launched Infrastructure Fund: o Studying the transport of gas is particularly important, including a comparative assessment of pipeline distribution versus compressed natural gas maritime transport throughout the region. 17

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