The much maligned and criticised Jamaica Public Service Company (JPS) could be the one to save the Government‘s floundering liquefied natural gas (LNG) project, which will bring cheaper electricity to Jamaicans.
Having stuck to the letter of the law and prevented the parent company of the JPS, Marubeni Corporation, from bidding to supply LNG to Jamaica, the Government now seems ready to eat humble pie and beg the firm for help.
Marubeni had wanted to submit a bid to supply the LNG to Jamaica but was disqualified after it arrived minutes after the 5 p.m. deadline.
However, with the qualified bidders offering prices that would not lead to any appreciable decline in the cost of electricity to Jamaicans, it appears negotiations are set to be initiated with Marubeni.
“The prices quoted by the bidders are much higher than Jamaica can pay and would not attract the JPS or the bauxite companies,” a source close to the talks told