The Caribbean accounts for less than 1% of global CO2 emissions. However, the region’s average CO2 emissions on a per capita basis reached 5.1 tonnes in 2019, above the global average of 4.6 tonnes, according to the International Monetary Fund (IMF). In part due to the dependence of most the region on fuel imports, particularly fuel oil and diesel, electricity prices in the Caribbean are high and average around USD 0.25/kWh, World Bank data shows. Renewables penetration is relatively low across the region.
Against this backdrop, a number of Caribbean nations have turned to natural gas in an effort to reduce power prices and greenhouse gas (GHG) emissions. Since the Peñuelas LNG Terminal began operating in Puerto Rico in 2000, several other import facilities have started up in the Caribbean, which benefits from the proximity of the US and Trinidad and Tobago, both LNG suppliers.
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