22 Jun 2009

Progress on region's plans to bulk buy petroleum

4:43 pm on 22 June 2009

The Pacific Islands Forum Secretariat is calling for tenders to establish a project implementation unit as the region moves ahead with plans to bulk buy fuel.

The scheme intends pooling Forum Island country resources to improve the negotiation of petroleum supply contracts, to leverage the purchasing power and to cut transaction costs.

The implementation unit will undertake a range of tasks to establish the process.

The Forum Secretary General, Tuiloma Neroni Slade, says poorly secured energy supply and ill conceived commercial arrangements place continuing pressure on the scarce national resources of the island countries.

So far four Forum Island countries, Nauru, the Cook Islands, Niue and Tuvalu, have committed to the bulk scheme.