This study analyses the feasibility of introducing natural gas in 14 countries in the Caribbean. The current dependence on fuel oil in the countries in the Caribbean has led to high generation costs and electricity prices. Introducing natural gas would decrease both the cost and price of electricity—mainly due to the lower price of natural gas. Additionally, natural gas plants emit less carbon dioxide (CO2) per ton than fuel oil plants. Therefore, the net benefits of natural gas would be seen in lower financial and economic (environmental) costs.