SPENCER

ST. JOHN'S, Antigua (CMC):

A number of Caribbean territories opted not to sign on to a new energy agreement during the PetroCaribe Summit in Caracas on the weekend.

Antigua and Barbuda, The Bahamas, Guyana, the Dominican Republic, St. Lucia, St. Kitts and Nevis, all parties to the 2005 agreement, did not sign the new document.

"We were considering a document that the Venezuelans had put forward to us where we are seeking look at a new energy treaty for the region and we have until December to decide," Prime Minister of Antigua and Barbuda, Baldwin Spencer said. "Antigua and Barbuda has reserved its position on that particular matter and we will certainly examine the implications."

Spencer opted not to disclose his country's specific concerns, but he told reporters that while the document reads reasonably well, it was important to examine it more.

"The position of Antigua and Barbuda is that we agreed to it in principle broadly, but we need to examine certain aspects of it before we would have signed on," he explained.

The new agreement was signed by Haiti, Grenada, St. Vincent and the Grenadines, Nicaragua, Jamaica, Suriname, Dominica, Belize and Cuba.

According to Spencer, Venezuela is looking at a to the Free Trade Area of the Americas by developing a concept "more in keeping with a South-South engagement".

Such an arrangement would enable Caribbean and Latin American countries to have a greater degree of cooperation.

Spencer also noted that the Hugo Chávez administration is also interested i sources of energy in the region.

"It's not just a question of continuing fuelling with fossil fuel. We'll maximise whatever we can with that but there ar he said.

"The idea is to reduce the consumption of fossil fuels and look at others.