Oban president confident about negotiations
Oban Energies President Alexander Grikitis said yesterday that the company’s $5.5 billion oil refinery and storage facility for East Grand Bahama will be an “environmentally sound, safe and sustainable development”.
“Meetings over the past two days have proved productive,” Grikitis said.
“Oban remains committed to an environmentally sound, safe and sustainable development that will strengthen the East Grand Bahama communities, grow Grand Bahama’s and the wider national economy.
“Oban is confident of a positive outcome and looks forward to a strong partnership with the Bahamian government and people. Oban will comment further at the conclusion of the present negotiations.”
The government and officials from Oban meet this week to start negotiations on an amended heads of agreement for the project.
The original agreement was signed on February 10, 2019; but the government later committed to reviewing it amid public furor. The government also established a Cabinet subcommittee and technical advisory group to examine the deal.
The agreement was signed without an environmental impact assessment (EIA) in place.
The current agreement states that the government does not have the option to kill the deal based on anything the EIA concludes, but must work with Oban to address any concerns raised by the study.
The EIA was completed a few months ago.
On Tuesday, Labour Minister Dion Foulkes, who heads that Cabinet subcommittee, said the government has requested “extensive” changes to the agreement.