Challenger Energy eyeing possibility of earnings from carbon credits

Challenger Energy Group (CEG) is exploring and learning the carbon credits market to prepare itself for what seems to be the inevitable future for any fossil fuels existing within Bahamian borders, as stated by Prime Minister Philip Davis – that the resource should be left in the ground.

CEO of CEG Eytan Uliel said his company has had some preliminary discussions with the government on this idea and has made a formal proposal. He said CEG is presently awaiting a reply and some level of active engagement with the government on the issue.

Uliel​ told Guardian Business that his company has done a “considerable amount of work” so far to understand the carbon credit market that has been touted frequently by Davis as the country’s answer to not drilling for oil.

Challenger Energy Group plc (LON:CEG) is a Caribbean and Atlantic margin focused oil and gas company, with a range of petroleum assets located onshore in Trinidad and Tobago, and Suriname, and offshore in the waters of The Bahamas and Uruguay.

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