Trinidad’s economic prospects rely on reviving its gas sector
Trinidad scrambles to prevent gas nosedive
The country’s production has been freefalling for years, but expected startups will not be enough to avert further long-term losses
Caribbean gas giant Trinidad and Tobago finds itself in a quandary. The past year has seen both its gas production and LNG exports slide, and even the startup of several large IOC-led projects over the next few years will not sustain output for long. Natural decline from many of the country’s maturing fields will quickly offset the gains. Highlighting the perilous situation, Trinidad’s gas production slumped by 19.7pc year on year in Q1. It was down even further between April and May, at 23pc. And the closure in late 2020 of Train 1 at the country’s liquefaction project, operated by Trinidadian LNG exporter Atlantic, triggered a 35.3
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
