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Trinidad and Tobago’s Energy Industry

David SMALL

Independent Senator

PARLIAMENT OF TRINIDAD AND TOBAGO

There is a huge opportunity for the service-level industry in Trinidad and Tobago to get business in Guyana.
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Trinidad and Tobago’s Energy Industry In Figures

Oil reserves200 million barrels

Oil production77,000 bopd

Gas reserves300 bcm

Gas production24.7 bcm

Trinidad and Tobago

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

Drilling dynamics and economics in Trinidad Anthony-BRASH
Interview
Trinidad and Tobago - May 24, 2023

Anthony Brash, managing director of Well Services Petroleum Company, talks to The Energy Year about the most effective strategy…

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In a changing environment, Atlantic LNG charts a new course Trinidad Ronald-ADAMS
Interview
Trinidad and Tobago - May 11, 2023

Ronald Adams, CEO of Atlantic, talks to The Energy Year about the potential to expand Atlantic LNG’s markets and how the…

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TEY_post_Shiraz-Ahamad
Interview
Trinidad and Tobago - May 09, 2023

Shiraz Ahamad, director of Southern Sales and Service Company, talks to The Energy Year about products and services the company…

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Operations restart at Trinidad’s Trintes field
NEWS
Trinidad and Tobago - April 24, 2023

Production has been restored on oil production platforms at the offshore Trintes field following a generator-related incident,…

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Trinidad and Tobago maps

Trinidad and Tobago – Point Lisas Industrial Port 2019

    ALL MAPS
    BP, Shell break ground on Trinidad’s first utility-scale solar project
    NEWS
    Trinidad and Tobago - April 20, 2023

    Trinidad and Tobago’s first utility-scale solar project saw a ground-breaking ceremony earlier this week, attended by…

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    In Trinidad, bp builds an energy future bpTT David-CAMPBELL
    Interview
    Trinidad and Tobago - April 19, 2023

    David Campbell, president of bp Trinidad and Tobago (bpTT), talks to The Energy Year about how Trinidad’s oil and gas sector…

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    A strategy for Trinidad-Suriname logistics Dawayne-BELCON
    Interview
    Trinidad and Tobago - April 17, 2023

    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…

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    The benefits of FROG carriers Trinidad Amelia-MIGUEL
    Interview
    Trinidad and Tobago - April 06, 2023

    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…

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