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Curacao government will not renew oil refinery lease with Venezuela
Published on February 5, 2016 Email To Friend    Print Version

The oil refinery in Curacao

WILLEMSTAD, Curacao -- In a letter to the leader of the coalition party PAIS, Alex Rosaria MP, the minister of public health, science and environment, Siegried Victorina, has indicated that the Curacao government will not renew the oil refinery lease agreement with the Venezuelan state oil company PDVSA.

In his letter, the minister indicated that it was important to move quickly because the current contract states that if one of the parties does not terminate the contract in writing two years before the contract expires (2019), the contract will automatically be extended for ten years. This would mean that PDVSA could continue operating the refinery until 2029 without any contractual obligation to modernize it.

Victorina said that the government has decided not to renew the current contract and the lease. The future solution for the oil refinery is to adapt it for the use of liquefied natural gas (LNG) as an alternative fuel for the refinery and the Curacao Refinery Utilities (CRU) plant.

Republished with permission of the Curacao Chronicle
Reads: 7374

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