Bolivarian Republic

As you can see they are countries in the region of the Caribbean and even of Central America, with weak economies, large energy needs, where this partnership definitely favors them in their development. Important thing is to determine what are the fundamentals of the agreement, its scope, benefits. Taken into account, that the objective is significant for the countries involved, because this contributes to the transformation of the Latin American and Caribbean societies please, making them more fair, educated, participative, and supportive, so it is intended as a proposed comprehensive that it promotes the Elimination of social inequalities, promotes quality of life and effective participation of peoples in shaping its own destiny. Should be noted, that as stated and is public knowledge, gave way to a Treaty on energy security Petrocaribe, to ensure security and energy stability in the Caribbean, ten countries attending the Summit III in August 2007, signed the Petrocaribe energy security treaty, proposed by the President of the Bolivarian Republic of Venezuela, Hugo Chavez. The signatory Nations were: Grenada, Belize, Cuba, Dominica, Haiti, Nicaragua, Saint Vincent and Grenadines, Jamaica, Suriname and Venezuela. This mechanism is intended to expand refining capacity and build or improve energy infrastructure in the region, for the dispatch, reception, transport, storage and distribution of hydrocarbons. Also, it seeks to develop policies and actions that each country allocate 10% of its capacity of sowing to the strictly necessary ethanol production, build liquefaction and regasification plants and enter the gas in its energy matrix.The Treaty also encourages the rational use of energy, in the search for maximum savings and efficiency, for which drives the development of petrochemical pole, the substitution of artifacts of high consumption of energy by more efficient equipment and the use of alternative energies such as wind, solar, geothermal, hydroelectric, among others.Member countries committed themselves to create and strengthen binational ventures and to negotiate directly between States to eliminate intermediaries.