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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 the largest hydrocarbons production in the Caribbean and has been in operation for more than a century. In the 1990s, the country successfully transitioned from an oil-dominated industry towards becoming a major gas producer thanks to companies such as the stae-owned National Gas Company and BP Trinidad and Tobago. The nation 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, which is expected to continue in the near term. While traditional hydrocarbons reserves have dwindled, the island nation has made significant recent finds in its deepwater blocks which balanced its gas reserves with its production rate. The country’s latest oil and gas bid rounds have drawn interest and further upstream development is expected in the long 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.

“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.

 

Trinidad and Tobago’s Energy Industry Interviews and News

BP targets ‘resilient hydrocarbons’ with $800-million Trinidad spending
NEWS
Trinidad and Tobago - December 05, 2022

With a focus on “resilient hydrocarbons,” BP’s Trinidadian subsidiary, BPTT, plans to spend USD 800 million in Trinidad and…

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BP launches gas production at Trinidad’s Cassia C
NEWS
Trinidad and Tobago - November 29, 2022

BP has delivered first gas from its Cassia C development off the coast of Trinidad and Tobago, the company announced on…

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Trinidad eyes clean fuel bunkering as methanol ship named
NEWS
Trinidad and Tobago - November 28, 2022

Trinidad and Tobago has its sights on becoming a hub for clean fuel bunkering, Prime Minister Keith Rowley said at a naming…

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New technology in gyro-while-drilling Gyrodata Trinidad Narvin-SALICK
Interview
Trinidad and Tobago - November 24, 2022

Narvin Salick, engineer in charge at Gyrodata Trinidad, talks to The Energy Year about the company’s deployment of its Quest…

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Trinidad and Tobago maps

Trinidad and Tobago – Point Lisas Industrial Port 2019

    ALL MAPS
    BP awards Trinidad subsea works to Subsea 7-OneSubsea JV
    NEWS
    Trinidad and Tobago - November 18, 2022

    BP has awarded a design and EPCI contract for its Cypre gas development offshore Trinidad and Tobago to a joint venture between…

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    Geological consulting in Trinidad and Guyana Helena-INNISS
    Interview
    Trinidad and Tobago - November 14, 2022

    Helena Inniss, executive director of Kronus Geological Services, talks to The Energy Year about the current state of geological…

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    NiQuan GTL Trinidad
    Articles
    Trinidad and Tobago - October 14, 2022

    NiQuan Energy Trinidad Limited’s Gas to Liquids Plant (NiQuan GTL) in Pointe-a-Pierre, Trinidad, West Indies, achieved on-specification delivery to its product storage…

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    NGC signs sales agreement for blue methanol
    NEWS
    Trinidad and Tobago - October 12, 2022

    Trinidad and Tobago’s oil and gas industry has the largest hydrocarbons production in the Caribbean and has been in operation for more than a century. In the 1990s,…

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    Trinidad starts up onshore gas project
    NEWS
    Trinidad and Tobago - October 11, 2022

    Trinidad and Tobago’s oil and gas industry has the largest hydrocarbons production in the Caribbean and has been in operation for more than a century. In the 1990s,…

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