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Trinidad and Tobago’s Energy Industry

Hon. Stuart YOUNG

Minister of Energy and Energy Industries

TRINIDAD AND TOBAGO

There is tremendous potential for regional energy security integration. Trinidad and Tobago, Guyana and Suriname need to lead the charge.
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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 Sector

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

Trinidad’s shifting demand for oilfield equipment TEY_post_Marc-SITARAM
Interview
Trinidad and Tobago - May 20, 2024

Marc Sitaram of Bandera Oil Tools talks about the company’s strategic approach to oilfield equipment supply in Trinidad and…

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Building capacity for Trinidad’s energy transition _Curtis-BOODOO
Interview
Trinidad and Tobago - May 16, 2024

Curtis Boodoo of the University of Trinidad and Tobago talks about why continuous education is important for engineers and…

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A strategic approach to service optimisation TOSL _Russell-BOODOO
Interview
Trinidad and Tobago - May 03, 2024

Russell Boodoo of TOSL Engineering talks about the company’s role in supporting Trinidad's energy transition.

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Touchstone acquires Trinidad E&P player Trinity
NEWS
Trinidad and Tobago - May 02, 2024

Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal.

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Trinidad and Tobago maps

Trinidad and Tobago Upstream Activity Map 2022

ALL MAPS
New technology in gyro-while-drilling Gyrodata Trinidad Narvin-SALICK
Interview
Trinidad and Tobago - April 30, 2024

Narvin Salick of Gyrodata Trinidad talks about the company's acquisition by SLB and its newest service offering.

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Trinidad and Tobago’s downstream potential
Articles
Trinidad and Tobago - April 23, 2024

As an established global petrochemicals exporter, Trinidad is well positioned to take the lead as a green commodity producer.

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Strength in diversity Rosco Procom Wayne-BERNARD
Interview
Trinidad and Tobago - January 18, 2024

Wayne Bernard, CEO of Rosco Procom, talks to The Energy Year about how the company’s post-merger product offer broadens its customer base and where it sees the…

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Drilling dynamics and economics in Trinidad Anthony-BRASH
Interview
Trinidad and Tobago - December 05, 2023

Anthony Brash, managing director of Well Services Petroleum Company, talks to The Energy Year about the company’s main recent drilling projects and key factors the…

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Trinidad moves towards hydrogen production
NEWS
Trinidad and Tobago - December 04, 2023

Trinidadian conglomerate ANSA McAL has signed an MoU with local renewables company Kenesjay Green (KGL) to develop green energy projects in the Caribbean region, the…

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