Energy security tops Rubio's Caribbean visit agenda

Market: Crude oil, Electricity, Natural gas
25/03/25

Energy security is the "big opportunity holistically" of US secretary of state Marco Rubio's planned visit this week to Jamaica, Guyana and Suriname, US special envoy for Latin America Mauricio Claver-Carone said.

The island nations that are net importers of crude and other energy products have a chance to "turn the page" to improve energy security and reduce prices, the envoy said today in a state department briefing to press.

The trip comes after the US said this week it would impose a 25pc discretionary tariff on imports from countries that buy Venezuelan crude. Several nations in the past received crude from their South American neighbor through its PetroCaribe aid program which is largely defunct, other than shipments to Cuba.

Trinidad has also sought to develop cross-border natural gas fields with Venezuela to boost its flagging production, but the US announcement further complicates this plan.

"Along with a lot of the challenges posed with Venezuela, we're deeply committed to working with Trinidad to figuring out how to re-energize ... those natural gas opportunities," Claver-Carone said.

Booming oil producer Guyana in turn has faced a border dispute with Venezuela, and the US hopes to discuss "binding security cooperation" to solve this problem during Rubio's visit.

Along with Guyana's neighbor Suriname, which hopes to launch offshore crude production by 2028, the outlook for the region to increase energy production could end its "huge Achilles' heel to its economic development and security," Claver-Carone added.

Rubio will also discuss security, including improving conditions in Haiti, illegal migration and arms and drug trafficking during his visits on Wednesday and Thursday.

By Carla Bass

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