The Bahamas officially became Shell Western Supply and Trading’s (SWST) northern Caribbean trading hub after it officially opened its offices in Lyford Cay House Tuesday.
And, according to Shell Caribbean’s country chair Mark Regis, who made remarks at the opening ceremony at The Island House, the company has focused growth plans for this country.
Shell North America recently signed a deal with Bahamas Power and Light (BPL) to develop a power plant for New Providence that utilizes liquid natural gas. Regis said he looks forward to working with government to see that project to fruition.
Shell once had a presence in The Bahamas, but in 2006 it exited this jurisdiction, “selling its downstream business to Sun Oil”, according to a Shell fact sheet.
“Sun Oil continues to manage branded Shell petrol stations, and distributes Shell lubricants on the island,” the fact sheet said.
Regis added: “This is really a return of sorts for us. It’s good to be back.”
According to Regis, Shell’s presence in The Bahamas once again means the company can be a “trusted advisor to government in its ambitions to provide cleaner energy”.
General Manager of SWST Rodrigo Teixeira de Abreu, who also brought remarks yesterday, explained that SWST is a large part of Shell’s trading network and trades crude oil out of West Africa, Latin America and the Caribbean.
According to Deputy Prime Minister and Minister of Finance Peter Turnquest, who closed out the remarks Tuesday, SWST has employed five Bahamians and has plans to train more, as it has benefitted from the Commercial Enterprises Act.
He added that Shell’s presence in The Bahamas, as a leading multi-national energy giant, is likely to bolster confidence in this jurisdiction as a place for investment, and he said The Bahamas looks forward to Shell’s expansion.