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AMERICAS OIL: Trinidad and Tobago looking to unlock additional natural gas

AMERICAS OIL
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Trinidad and Tobago looking to unlock additional natural gas resources: NewsBase

  • Trinidad and Tobago has unveiled significant exploration targets that could potentially unlock 58.84 tcf (1.67 trillion cubic metres) of natural gas resources.
  • Energy Minister Stuart Young announced these prospects at the country's flagship Energy Conference against the backdrop of current reserves estimated at less than 12 tcf (0.34 trillion cubic metres).
  • A recent audit by DeGolyer and MacNaughton confirmed unrisked technically recoverable quantities of proven and contingent gas at 11.498 tcf (0.33 trillion cubic metres), prompting an aggressive push for new exploration. The government has responded by launching multiple bid rounds across deep-water, onshore, and offshore blocks.
  • This renewed push comes at a critical time for Trinidad and Tobago, as annual gas output has declined from 1.479 tcf (0.04 trillion cubic metres) in 2012 to 0.988 tcf (0.028 trillion cubic metres) in 2022. 
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Trinidad and Tobago looking to unlock additional natural gas resources: NewsBase

  • Trinidad and Tobago has unveiled significant exploration targets that could potentially unlock 58.84 tcf (1.67 trillion cubic metres) of natural gas resources.
  • Energy Minister Stuart Young announced these prospects at the country's flagship Energy Conference against the backdrop of current reserves estimated at less than 12 tcf (0.34 trillion cubic metres).
  • A recent audit by DeGolyer and MacNaughton confirmed unrisked technically recoverable quantities of proven and contingent gas at 11.498 tcf (0.33 trillion cubic metres), prompting an aggressive push for new exploration. The government has responded by launching multiple bid rounds across deep-water, onshore, and offshore blocks.
  • This renewed push comes at a critical time for Trinidad and Tobago, as annual gas output has declined from 1.479 tcf (0.04 trillion cubic metres) in 2012 to 0.988 tcf (0.028 trillion cubic metres) in 2022.