GUARDIAN Holdings Limited said the construction of a 300-kilometre natural gas pipeline that will connect Trinidad & Tobago to Barbados will start in a few months.

The Trinidadian-based firm notified the Jamaica Stock Exchange (JSE) that it reached a major milestone towards the achievement of the strategic objectives of the Eastern Caribbean Gas Pipeline Company (ECGPC), in which Guardian holds a 15 per cent stake.

The energy company aims to first supply Barbados with natural gas and then in, subsequent planned phases, extend the pipeline further north connecting to other islands — as far as Guadelope.

Guardian didn’t say what the new milestone reached was, but the announcement follows the acquisition of a majority share of the company by overseas investors in January.

Guardian gave up a 25 per cent stake in the company to allow for Beowulf Energy LLC of New York and First Reserve Energy Infrastructure Fund to acquire 60 per cent of ECGPC.

Then, ECGPC spokesman, R Gregory Rich said, “The extensive energy infrastructure experience and substantial financial resources of Beowulf and FREIF will accelerate the implementation of this regionally important project thereby creating long-term value for the company’s investors while delivering tangible financial and environmental benefits to the islands served by the pipeline.”

Natural gas is expected to considerably reduce the electricity generation costs in the island, while in the case of Barbados, the supply of natural gas has fuelled discussions around natural gas-fuelled cars.

“A pilot project has successfully been run to this end,” said the notification to the JSE.

It added: “The current ownership position is designed to substantially reduce the risk faced by GHL shareholders while providing the opportunity for a steady stream of income payments.”

The Trinidad & Tobago Unit Trust Corporation (UTC) owns 15 per cent and the National Gas Company retained its 10 per cent shareholding.