15 years of Petrocaribe: Initiative for the integration of peoples

In 2005, the Petrocaribe Energy Cooperation Agreement was signed in the city of Puerto La Cruz, Anzoátegui state, proposed by the then President Hugo Chávez in order to coordinate energy policies that would reduce the existing asymmetries in the region, diversify the energy matrix of the member countries, eliminate the intermediation of transnational corporations and minimize operating costs.

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15 years of PetroCaribe: An Initiative for the Integration of the Peoples

This Monday marks the 15th anniversary of PetroCaribe, a regional integration initiative promoted by Supreme Commander Hugo Chávez

In 2005, the PetroCaribe Energy Cooperation Agreement was signed in the city of Puerto La Cruz as an energy cooperation initiative proposed by leader of the Bolivarian Revolution, Commander Hugo Chávez, in order to coordinate energy policies allowing to reduce existing inequities in the region, diversify the energy matrix of the member countries, eliminate middlemanship of transnational corporations, and minimize operating costs.

“This energy cooperation agreement proposed by the Bolivarian Revolution, and with the support of all of you, for which we are so grateful, was born precisely out of the analysis we have made of the tremendous inequalities in the region. PetroCaribe transcends a simple hydrocarbon trade mechanism; it is an integrating mechanism; and beyond that, a unifying, liberating mechanism,” said the Supreme and Eternal Commander Hugo Chávez in his speech at the 4th PetroCaribe Summit, in Cienfuegos, Cuba, on December 21st, 2007.

PetroCaribe is an initiative signed by 18 nations with common needs based on fair, equitable access to hydrocarbon resources, and the principles of solidarity, complementarity, respect, and self-determination of the Latin American and Caribbean peoples.

“Now it is up to us to make come true the Liberator Simón Bolívar’s dream expressed in his Letter of Jamaica, (…). PetroCaribe is the foundation for the construction of a new independence in Latin America and the Caribbean,” said President of the Bolivarian Republic of Venezuela, Nicolás Maduro, during the 10th PetroCaribe Summit, held in Jamaica on September 5th, 2015.

Over the last 15 years, this agreement has allowed the signatory countries to access energy resources under a long-term financing scheme, which has fostered the execution of social projects, and thus the development of an infrastructure with which the member countries have advanced towards energy independence and security.

In addition to recovering the bonds of brotherhood among the Caribbean peoples, the creation of PetroCaribe was the first solidarity-based energy agreement, for purposes social development and justice purposes.

PetroCaribe has brought integration and complementarity in the fields of health, infrastructure, electricity, and education to its member countries.

The integration of Latin America and the Caribbean, within the framework of the Bolivarian Diplomacy of Peace, has allowed the emergence of multilateral organizations like PetroCaribe, ALBA, CELAC, and UNASUR , which the leader of the Bolivarian Revolution Hugo Chávez created with great strategic vision, obtaining great results for the benefit of the peoples.

Relaunch of PetroCaribe

“We have seen the birth of Petrocaribe and the commitment, which we will honor, of relaunching it this year. The steps have already been taken and the methods have been discussed,” said President of the Republic Nicolás Maduro, during a video conference with the Heads of State and Prime Ministers of the Bolivarian Alliance for the Peoples of Our America-People’s Trade Treaty (ALBA-TCP).

The Head of State emphasized the strength of this energy cooperation mechanism, which has managed to continue despite the persecution and permanent blockade promoted by the United States Government against Venezuela.

“ALBA commemorated its 15 years last December in Havana; and now in June, it is Petrocaribe’s 15th anniversary. It can be done. We have demonstrated it despite the energy, financial, and commercial persecution; despite Donald Trump’s attempts to press his knee on the neck of PetroCaribe and Venezuela. They will not suffocate us; they will not subdue us. Under no circumstances will Donald Trump’s knee suffocate and kill this wonderful idea of Bolívar, Martí, Fidel, and Chávez. Never!”.

The Bolivarian Republic of Venezuela ratifies its commitment with the peoples of the Caribbean to relaunching this energy cooperation mechanism to continue articulating actions under the principles of solidarity, brotherhood and complementarity.

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