Why is The Bahamas Investing in LNG?
LG in the global sense is considered the transitional fuel. You almost can say that the Bahamas is now leapfrogging its energy sector to be able to expand later in the future and explore different advanced technologies. >> LG simply means liqufied natural gas. It's natural gas that is super cooled to a temperature that is - 160 plus uh degrees C. Uh and at that temperature it's liqufied. Uh the purpose for doing that is that it shrinks it shrinks the volume by about 600 times and it allows it to be transported safely into regions where there are no pipelines. I think energy reform in the Bahamas today is perhaps the most transformative gesture taken on by any government in the Baham in recent years. That is a position that has long been advocated by the tourism sector which accounts for a substantive part of the monthly billings that BPL currently uh produce >> once the project is fully built out. Um, we're anticipating savings that are north of $100 million per year and ultimately that trickles down to every consumer in the country >> and I think reasonable people understand that we have generations of uh corporation that really needed attention. Uh but attention is now taking place in earnest uh which which is requiring hundreds of millions of capital but also a commitment to ensure that it happens in the shortest period of time so that relief can not only be brought to those in our tourism sector but every single Bohemian >> based on our current schedule we're anticipating what we call first gas which means that's going to be the date by which we introduce gas to the energy system for the first time. Uh we're anticipating that to be Q1 of next year. >> We have a lot of projects going up around Nassau in our family islands. We have the groundmounted uh solar that is around Blue Hills. We also have them going up in Abico and Aluthra. That's exciting. at our plants. You can see that we've improved our uh distribution, our transmission, our interconnection because we're readying our transmission and distribution system to take on not only the solar but also to take on the LNG. I want to see the cost of electricity go down tremendously in this country.