Trinidad and Tobago has initiated discussions with several European nations regarding the supply of liquefied natural gas (LNG).
This will generate many millions of dollars’ extra income for T&T if it comes off. The LNG will be produced from gas imported from Venezuela. The Venezuelan government awarded a 30-year licence to Shell and Trinidad’s National Gas Company for the joint development of the Dragon gas field last month.
During an energy conference in the Port of Spain, Trinidad Prime Minister Keith Rowley said: “There is serious European interest in what is happening in Trinidad and Tobago as they attempt to bring to market resources from South America.”
The Dragon gas field is estimated to hold up to 4.2 trillion cubic feet of gas and is located near the maritime border between the two countries.
With plans to start production by the end of next year, the Dragon project could signify Venezuela’s first export of its substantial offshore gas reserves.
On its side, Trinidad wants to gain access to its neighbours’ gas deposits as output from its own fields is set to continue dwindling through 2028, said Mark Loquan, the head of the state-run National Gas Company, said.
Trinidad needs extra gas supplies to boost production and exports of LNG, ammonia and methanol as global demand rises, Loquan added.
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