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Edward Brathwaite of InCrEdible Safety Services talks about the company’s strategy for delivering efficient safety services in Trinidad.
READ MOREHon. Stuart YOUNG
Minister of Energy and Energy Industries
TRINIDAD AND TOBAGO
Oil reserves200 million barrels
Oil production77,000 bopd
Gas reserves300 bcm
Gas production24.7 bcm
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.”
Dr Joseph Ishmael Khan of NGC talks about ensuring a greater supply of natural gas to the Trinidadian market.
READ MOREVenezuela has awarded a licence for an offshore gas development to Trinidad's National Gas Company and BP.
READ MOREKellyanne Lochan of Woodside Energy talks about production optimisation and decarbonisation efforts in Trinidad and Tobago.
READ MOREShell has reached an FID on Trinidad's Manatee gasfield, in a boost for the country's LNG production.
READ MOREShamir Khan of RESSCOTT Limited talks about how the company’s services can save energy costs for clients.
READ MOREFor nations such as Trinidad and Tobago, mangrove swamps hold an opportunity for carbon sequestration.
READ MOREBP and Trinidad's NGC have secured a licence from the US government to proceed with a gas project with Venezuela.
READ MOREEdward Brathwaite of InCrEdible Safety Services talks about the company’s strategy for delivering efficient safety services in Trinidad.
READ MOREMarc Sitaram of Bandera Oil Tools talks about the company’s strategic approach to oilfield equipment supply in Trinidad and Tobago.
READ MORECurtis Boodoo of the University of Trinidad and Tobago talks about why continuous education is important for engineers and technical workers in the energy transition.
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