Experts discuss how Cuba can overcome energy shortages due to a decline in Venezuelan oil shipments and poor energy infrastructure. ... Play Video
Marc Frishman, Managing Director, Global Power & Energy Infrastructure, Barings
Luisa Palacios, Managing Director, Latin America, Medley Global Advisors, LLC
Germán Ríos, Corporate Director of Strategic Affairs, CAF - Development Bank of Latin America (moderator)
"If you've been to Havana recently, you know all the work that needs to be done in infrastructure," said Baring's Marc Frishman in a panel on energy in Cuba. Frishman estimates the island needs some $4 billion of investment in energy infrastrucutre and $1 billion for developing renewables. In addition, Cuba is suffering a deficit in supply after oil shipments from Venezuela fell from 90,000 barrels per day to 50,000, according to Medley Global Advisor's Luisa Palacios.
Watch energy experts engage about infrastructure projects and resources, as well as changing policy conditions for the sector. ... Play Video
Felipe Bayón Pardo, Executive Vice President, Ecopetrol
Amos Hochstein, Special Envoy for International Energy Affairs, U.S. Department of State
Ali Moshiri, President, Chevron Africa and Latin America Exploration and Production Company
Eric Farnsworth, Vice President, Americas Society/Council of the Americas (moderator)
The Western Hemisphere is going in the right direction in terms of energy, said U.S. Department of State's Amos Hochstein. But beyond an abundance of resources and security, the region needs to have policy consistency, said Chevron's Ali Moshiri. Ecopetrol's Felipe Bayón Pardo added that oil prices might go up with time, but the process will happen slowly, which will force companies and investors to stay focused and efficient.
These and other energy topics—such as new governments in countries such as Argentina and the United States, the potential for infrastructure projects, and further integration in Central America—were addressed in the panel.