Trinidad & Tobago pursuing compensation from a UK-based fund for damages resulting from oil spill

The government of Trinidad & Tobago announced on Monday that it had successfully secured international compensation to aid in the ongoing cleanup efforts following an oil spill in Tobago.

Initial estimates suggest the damage could amount to as much as US$20 million.

Stuart Young, Minister of Energy and Energy Industries, revealed during a press conference that while the exact monetary figure of the compensation is yet to be determined, the government’s contributions to the International Oil Pollution Compensation Fund (IOPCF) over the years facilitated this reparation.

The oil spill, detected off Tobago’s Atlantic Coast on February 7, has wreaked havoc on the island’s mangroves and posed significant threats to its vital tourism and fishing industries. Furthermore, the spill has extended into the Caribbean Sea, posing risks to neighboring countries such as Venezuela and the island of Bonaire.

Young provided insights into the circumstances surrounding the spill, indicating that the vessel involved, identified as the ‘Gulf Stream’, was transporting fuel and had undergone name changes. The decision to pursue compensation was made on April 29, leading to the IOPCF’s decision to apply civil liability and fund conventions to the incident, thereby authorizing compensation payments for valid claims arising from the spill.

The vessel, reportedly en route to Guyana at the time of the incident, is under investigation, with efforts underway to identify its owners and hold them accountable. Assistance from various countries, including the United States, Canada, Tanzania, Nigeria, Panama, Aruba, and Curacao, has been sought to trace the vessel’s owners and address the aftermath of the spill.

The government remains committed to thorough investigations and collaboration with international partners to mitigate the environmental and economic impacts of the oil spill on Tobago and neighboring regions.