Diversification of the energy mix, cost savings of up to $300 billion per year for electricity distribution companies, and a reduction in greenhouse gas emissions are among the advantages the country has gained from the implementation of natural gas plants.
This was stated by Osvaldo Oller Bolaños, Financial Director of Energía Natural Dominicana (ENADOM), a company dedicated to the marketing of natural gas in the country, and who participated as a guest in the most recent session of the Energy Committee of the Chamber of Commerce of the Dominican Republic (AMCHAMDR).
Oller Bolaños added that, in the short term, the Dominican Republic will achieve its goals of diversifying its energy matrix and reducing dependence on oil in the electricity sector. According to his projections, the country will go from having 27.7% of natural gas-based generation in 2011 to 41.2% in 2021.
In this regard, the executive cited that investments in the Eastern gas pipeline have allowed fuel and diesel generating units in the eastern part of the country to convert to natural gas, which, in his opinion, demonstrates the private sector's confidence in investing in the electricity sector.
The executive added that the impact of converting the entire Eastern generation fleet has an estimated savings of approximately US$$ 300 million per year for EDEs, allowing for continued growth in renewable energy in the future.
He also referred to the environmental impact of operating these units, which contribute to achieving the goals of the Paris Agreement, adopted at the Climate Conference in December 2015.
"The natural gas operation of these units will result in high energy production at these power plants, equivalent to the introduction of new generation and a reduction in greenhouse gas emissions of 890,000 tons of CO2 per year on average," he said.
During his presentation at the Energy Committee session, Oller Bolaños stated that work is underway to establish the country as a natural gas export hub in the Caribbean region, supplying fuel at competitive prices to countries in those markets.
This reveals that the Dominican Republic has a growth opportunity for natural gas sales, specifically in the northern region, and that this fuel is quite stable and competitive.
The expert says the country must move toward seeking cheaper prices and new sources of clean energy to achieve social development, which, in his opinion, would be achieved by reducing dependence on oil.
About the speaker
Osvaldo Oller Bolaños studied Industrial Engineering and Information Technology at Rensselaer Polytechnic Institute and later earned an MBA from Boston University, focusing on Finance and International Management.
In his professional career spanning more than 15 years, he has held executive roles and led ventures in companies in the fuel, construction materials, e-commerce, and energy sectors. He currently serves as Chief Financial Officer at Enadom, as well as President of VMO Concretos and serves on several Executive Committees and Boards of Directors at companies such as CESPM, Sansouci, and Constructora OV, among others.
