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Report
Infrastructure and Energy
Opportunities in the Caribbean
Assessment of Commercial Opportunities for UK
Companies in the Caribbean in the Infrastructure
and Energy Sectors.
Benjamin D. Greenberg, Director
Prepared for:
UK-Caribbean Business Conference
17 June, 2014
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Overview
2 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Caribbean Overview
Projects in the Caribbean energy sector are capital intensive and access to debt/equity financing will be crucial.
$245 Million that the U.S.’s private lending sector is looking to provide in renewable energy loans as there is a
changing energy landscape of the Caribbean with significant investment opportunities in an emerging Green
Economy. Economic growth in much of the Caribbean has been stagnating since the financial crisis. Many islands,
particularly the OECS but also Jamaica and Barbados are crippled by public debt, meaning there is very little
public sector investment. PPP offers potential, but national policies are not fully developed and public sector
capacity to develop and manage such projects is low.
Energy Sector
Trinidad is currently rationalizing its path towards expansion into downstream
petrochemical projects while other countries in the Caribbean region are transitioning to
green energy initiatives to reduce energy costs as governments in the region strengthen
policy support and local supply chains.
Water & Waste
Waste Water
Treatment
Oil & Gas
LNG
Methanol
Renewables
Wind & Solar
Waste-to-energy
Trans. / Dist.
Electricity
Gas
Infrastructure Sector
Caribbean countries requires international infrastructure investment. The economies in
countries throughout the region are bolstered by the strong international demand for
their respective natural commodities and the attractiveness of a competitive labor force.
Infrastructure Project Types
Airports Ports
Roads
3 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Hotels
Sport Centers
Hospitals
© 2014 Deloitte Touche Tohmatsu
The level of opportunity for UK firms in the energy and
infrastructure markets varies by countries across the region
Country
Level of Opportunity
Energy Market
Infrastructure Market
Bahamas
Medium
Low
Barbados
Medium
Medium
Bermuda
Low
Medium
Cayman Islands
Low
High
Medium
Low
High
Medium
Jamaica
Level of Market
Opportunity
Trinidad & Tobago
Low
Inconsistent levels of capital project investments and/or
lack of sizable client base in asset intensive industries
Medium
Sustained levels of capital project investments or a
client base in at least one or more strategic asset
intensive industries
High
Substantial and sustained capital project investments
and client base in multiple strategic asset intensive
industries
4 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Multiple investment
opportunities
across the region
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Projects
5 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Project Name
Country
Trinidad and Tobago
Port of Galeota: Phase II and III
San Francisco Waterfront
Redevelopment
Juniper Natural Gas
Project Constatine
Construction of
multipurpose facility
Redevelopment of San
Infrastructure
Francisco's waterfront
Energy
Offshore gas production
Energy
Small scale LNG
Energy
Estimated
Contract Value
Status
Source
50
Phase II awarded, no
confirmation on construction
The Oil and Gas Year
Unknown
Preliminary studies
Deloitte Trinidad and Tobago
180
180
Contract Awarded
Contract Awarded
Contract Awarded, legal
disputes
The Oil and Gas Year
The Oil and Gas Year
World Gas-to-Liquids Plant
Energy
Gas to Liquids plant
Unknown
Deep Water Blocks
Energy
Prodution Sharing
Contracts
45
Contract Awarded
Methanol to DME Project
Energy
Methanol DME plant
520
Contract Awarded
Unknown
Contract Awarded
Unknown
Tender closed
National Gas Company
45
Unknown
Tender closed
Tender closed
National Gas Company
National Gas Company
67
Contract Awarded
Genivar/WSP
115
Contract Awarded
Genivar/WSP
20
Contract Awarded
Genivar/WSP
5 million each
Contract Awarded
Genivar/WSP
61
Unknown
Jamaica Promotions Corporations
Unknown
Contract Awarded
Jamaica Promotions Corporations
70
Tender to be announced
Office of Utilities Regulation (OUR)
Gas pipeline from T&T to
Barbados
Project to use CO2 to
Crude Oil Recovery Using CO2
Energy
reverse oil production
CNG Initiative
Energy
CNG filling stations
Beetham Water Recycling Plant Infrastructure Water recycling plant
Flood Alleviation and Drainage
Drainage works and linear
Infrastructure
Program
park
Construction of sports and
Healt and Sport Centres
Infrastructure
health facilities
Hospitals, Arima, Sangre
Infrastructure Construction of hospitals
Grande, Point Fortin, Penal
Construction of police
Police Stations
Infrastructure
stations
Airport expansion
Infrastructure
Expansion of airport
Construction of 360 MW
Power Plant Project 360 MW
Energy
powerplant
Renewable Energy for a
Renewable Energy
Energy
115 MW project
Conversion into transfer
Portmore Sewage Project
Infrastructure
pumping stations
Eastern Caribbean Gas Pipeline
Jamaica
Type of
Project
Energy
Unknown
Bermuda
Wastewater facilities by Ministry
Infrastructure
of Environment, Planning
Electricity Generation
Private Resort Development
Hamilton Waterfront
Development
Relocation of Container Port
Energy
Construction of
wastewater facility
Turbin upgrade
Proposed private resort
Infrastructure
developments
Redevelopment of
Infrastructure
Hamilton waterfront
Relocation of container
Infrastructure
port of Hamilton
6 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Unknown
Unknown
Unknown
Unknown
Unknown
The Oil and Gas Year
The Energy Chamber of Trinidad and
Tobago
The Energy Chamber of Trinidad and
Tobago
The Energy Chamber of Trinidad and
Tobago
Ministry of Water, Land, Environment
and Climate Change
Ministry of Environment Planning &
Preliminary studies
Infrastructure Strategy and Public
Works
Preliminary studies
Ministry of Youth, Families & Sports
Ministry of Business Development &
Project details to be announced
Tourism
Ministry of Business Development &
Contract Awarded
Tourism
Ministry of Business Development &
Contract Awarded
Tourism
Contract Awarded
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Project Name
Country
Barbados
Millennium Heights Final Infrastruc
Housing project
Phase
ture
Infrastruc
Bushy Park Race Track
Construction of race track
ture
Development of Waste to
Energy
Waste to energy plant
Energy Component
HFO Turbine, Renewables,
Energy Projects
Energy
LNG Facilities
Infrastruc
Four Seasons
Hotel construction
ture
Wind, Gas and Solar
Energy
Energy Programmes
Energy Programme
Sugar Point Cruiser Pier
Bahamas
Type of
Project
Infrastruc Construction of Cruiser piers
ture
and masterplan
Road and Bridge
Infrastruc Improvement of road and
Improvement Study
ture
bridge infrastructure
Water & Sanatation
Infrastruc Reduction of non revenue
Systems Upgrade Project
ture
water
Implementation of
Energy Sustainable energy projects
Sustainable Energy
Projects
7 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Estimated
Status
Contract Value
Source
10.7
Preliminary studies
Williams Industries
7.6
Unknown
Williams Industries
280
Contract Awarded
The Scottish Business Resilence Centre
Unknown
Unknown
Unknown
Contract Awarded
Unknown
Unknown
Unknown
Contract Awarded
Unknown
General procurement notice
Ministry of Transports and Works
Unknown
Contract Awarded
Barbados Water Authority
Unknown
RFP
IADB
Ministry of Finance, Investment,
Telecommunications and Energy
Ministry of Finance, Investment,
Telecommunications and Energy
Ministry of Finance, Investment,
Telecommunications and Energy
Barbados Port Authority, Royal Caribbean
Cruise Ltd. and SMI Infrastructure Solutions
Inc.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Scoring
8 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Project
o Project in tender.
o Contract Value.
o Likelihood of project
to be executed.
o In-house capabilities
to fulfil needed
services.
Public
Framework
o Interest of the local
goverment to develop
the sector.
o Tax Incentives.
Market
o Focus of the private
sector in the activity.
o Finance availability
from banks.
o Appealing
commercail terms for
the sector.
o Transparency and
Corruption.
9 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Deep Dives
10 © 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Trinidad and Tobago - Energy Sector
Juniper Natural Gas
The most anticipated project for 2014 in the
energy sector. Production of 270 million cubic
feet per day, which makes it the highest
producing gas well in the world.
Project:
P. Framework:
Market:
3/12
12/12
6/6
21 points
• The project will target five subsea wells.
• The project is carrying out a concept
definition engineering for subsea architecture
and a new subsea support platform.
• Technip is currently contracted with BPTT to
perform front-end engineering design
(FEED) activities for Juniper, however at this
time a contract has not been awarded for
the full development of the Juniper field.
11 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Trinidad and Tobago - Energy Sector
Juniper Natural Gas
• It is expected that BPTT will complete FEED
work with Technip in the third quarter of 2014.
• Once FEED is complete, BPTT will be able to
share more plans for the Juniper project.
Project:
P. Framework:
Market:
3/12
12/12
6/6
21 points
• Deloitte received an official statement from the
Project General Manager where is stated that
there is potential consideration in
subsequent project phases for technically
acceptable UK service companies that meet
their vendor qualification requirements for the
work.
12 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Trinidad and Tobago - Infrastructure Sector / Energy Sector
Port of Galeota: Phase II
and III
Facilitate the activities of exploration and
production companies, while generating both
onshore and offshore economic activity in
Guayaguayare, Trinidad and Tobago.
Project:
P. Framework:
Market:
10/12
12/12
6/6
28 points
• 200-meter-wide turning basin and four berths
• Rig and boat repairs, maintenance and
fabrication, delivery services and tank farm
storage.
• Permanent facility for the Coast Guard
• Investment overseen by state-owned
infrastructure firm National Energy
13 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Trinidad and Tobago - Infrastructure Sector / Energy Sector
Port of Galeota: Phase II
and III
• NEC is shortlisting consultants to carry out
the design of Phase II
• RFP which will include detailed designs for
port layout and infrastructure services,
inclusive of quay structures and turning basins,
berthing and mooring analysis.
Project:
P. Framework:
Market:
10/12
12/12
6/6
28 points
• The RFP is expected to be released in June
2014.
• NEC recognizes the potential for UK
companies to advice in the development of
the port to meet industry standards and to
help explore the full potential to cater the
specific geographic location of the project.
14 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Barbados - Infrastructure Sector
Road and Bridge
Improvement Study
The Government of Barbados has received
financing from the Caribbean Development
Bank in an amount equivalent to USD2.422
billion towards improving road and bridge
infrastructure
Project:
P. Framework:
Market:
10/12
4/12
6/6
20 points
• Prepare a technical and economically viable
programme of capital works that will result in a
more efficient and safer road network.
• Upgrade of the Ronald Mapp Highway.
• Replacement of bridges in the Scotland
District.
• Improve road safety on the country’s roads.
15 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Barbados - Infrastructure Sector
Road and Bridge
Improvement Study
• Currently in pretender phase. An Expression
of Interest is expected to be issued by early
July 2014.
• The project is funded by the Caribbean
Development Bank, certain restrictions may
apply for prospective consultants wanting to
participate in this project. Synergies between
local contractors and UK companies are
encouraged.
Project:
P. Framework:
Market:
10/12
4/12
6/6
20 points
• Tender information is expected to be
announced at the CBD’s website and the
Ministry of Transport and Works’ website by
early July 2014.
16 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Cayman Islands - Infrastructure Sector
Grand Cayman Cruise
Berthing Facility
The government is pressing ahead with the plan
to develop two cruise piers in the George Town
Harbour that can host the new class of mega
ships now serving the Caribbean.
Project:
P. Framework:
Market:
9/12
12/12
6/6
27 points
• Environmental impact assessment and
marine engineering performance specifications
are currently being conducted.
• Methodical approach from the government to
ensure the project is managed in the right way
from a financial, technical and environmental
standpoint.
• Creation of an Outline Business Case where
several financial, technical and environmental
factors are defined.
17 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Cayman Islands - Infrastructure Sector
Grand Cayman Cruise
Berthing Facility
• PricewaterhouseCoopers (PwC) was named
by the CTC as the successful bidders. They
then prepared the Outline Business Case
and subsequent tender documents.
Project:
P. Framework:
Market:
9/12
12/12
6/6
27 points
• Several technical studies will be required,
both in order to conduct the design elements
of the project.
• These include: geotechnical, bathymetric
and several others (not disclosed in the PwC
document) identified by UK firm Mott
MacDonald Global Engineering Consultants
Concept Study not included in the public
document.
18 ©2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Benjamin D. Greenberg
Director | Financial Advisory Services
Tel: +52 (55) 5080 7116
[email protected]
Rikhi Rampersad
Managing Partner | Trinidad & Tobago
Tel: +1(868)622 9380
© 2014 Galaz, Yamazaki, Ruiz Urquiza, S.C.
Barbados & Eastern Caribbean:
[email protected]
Trinidad & Tobago:
[email protected]
Jamaica:
[email protected]
© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.
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© 2012 Galaz, Yamazaki, Ruiz Urquiza, S.C.

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