Dawayne Belcon, CEO of D.S. Belcon Limited, talks to The Energy Year about the role Trinidad and Tobago will continue to play for the regional energy industry and the…READ MORE
Trinidad and Tobago’s Energy Industry
PARLIAMENT OF TRINIDAD AND TOBAGO
Trinidad and Tobago’s Energy Industry In Figures
Oil reserves200 million barrels
Oil production77,000 bopd
Gas reserves300 bcm
Gas production24.7 bcm
Transition in the Caribbean Oil & Gas Industry
Trinidad and Tobago’s oil and gas industry has had operations for more than a century and now supports the largest hydrocarbons production in the Caribbean. In the 1990s, the country successfully transitioned from an oil-dominated industry towards becoming a major gas producer. The country sits in the top ten list of LNG exporters in the world, with one of the largest LNG processing plants in the Western Hemisphere. The energy industry remains a key pillar for the economy, representing around 45% of its GDP despite the country’s efforts to diversify its industrial output. The upstream sector is overseen by NOC National Gas Company and has attracted many international stakeholders such as BP, Shell, Proman, Perenco and BHP.
Due to a slowdown in upstream investment, the island has experienced a decline in natural gas production since 2014, something expected to continue in the near term. Because the country has such an abundant pool of gas resources, its gas processing and petrochemicals sectors have thrived. However, severe gas shortages in recent years have forced several midstream and downstream companies, including Atlantic and Methanol Holdings, to scale back activity. While traditional hydrocarbons reserves have dwindled, the island nation has made significant recent finds in its deepwater blocks to balance the country’s gas reserves with its production rate.
“The government is securing investors for the new industrial estates in its drive to expand foreign direct investment, diversify the economy and to create employment opportunities for the people of Trinidad and Tobago. The focus on the energy industry is to increase production of both oil and natural gas,” Franklin Khan, former minister of energy and energy industries, told The Energy Year. “We are now in full thrust towards a trajectory of sustained growth and development and contributing to our sovereign wealth whilst stimulating foreign direct investment in our economy. It is a clear signal that our energy sector is the place to invest.”
Trinidad and Tobago’s Energy Industry Interviews and News
Anthony Brash, managing director of Well Services Petroleum Company, talks to The Energy Year about the most effective strategy…READ MORE
Ronald Adams, CEO of Atlantic, talks to The Energy Year about the potential to expand Atlantic LNG’s markets and how the…READ MORE
Trinidad and Tobago reportsMore reports
Shiraz Ahamad, director of Southern Sales and Service Company, talks to The Energy Year about products and services the company…READ MORE
Production has been restored on oil production platforms at the offshore Trintes field following a generator-related incident,…READ MORE
Trinidad and Tobago maps
Trinidad and Tobago – Point Lisas Industrial Port 2019
Trinidad and Tobago’s first utility-scale solar project saw a ground-breaking ceremony earlier this week, attended by…READ MORE
David Campbell, president of bp Trinidad and Tobago (bpTT), talks to The Energy Year about how Trinidad’s oil and gas sector…READ MORE
Technologically enhanced trainingINTERVIEW
An asset base for instant deliveryINTERVIEW
The backbone of the energy transitionINTERVIEW
The technological side of drillingINTERVIEW
Lennox Oudit, managing director of Trifactor Technical Sales and Services, talks to The Energy Year about the main challenge with incorporating solar power in the…READ MORE
Amelia Miguel, general manager of Miguel Mechanical Services, and Allister Paul, the company’s operations and maintenance manager, talk to The Energy Year about the…READ MORE
Carina Cockburn, country representative for Trinidad and Tobago at the Inter-American Development Bank (IDB), talks to The Energy Year about why the country’s oil and…READ MORE
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