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Last Updated: January 2016

Overview


Map of Trinidad and Tobago
Map of Trinidad and Tobago
  • As the largest oil and natural gas producer in the Caribbean, Trinidad and Tobago's hydrocarbon sector moved from an oil-dominant to a mostly natural gas-based sector in the early 1990s. In 2014, Trinidad and Tobago was the world's sixth-largest LNG exporter, according to the BP Statistical Review of World Energy 2015. The country was also the largest LNG exporter to the United States, accounting for nearly 71% of U.S. LNG imports in 2014.
  • According to BP's Statistical Review, total primary energy consumption in Trinidad and Tobago was about 850 trillion British Thermal Units (Btu) in 2014. Natural gas consumption accounted for approximately 93%, and consumption of petroleum products 7%. Renewable fuels, in the form of biomass and waste, represent a negligible share of energy consumption.

Natural gas

  • As of the beginning of 2016, Trinidad and Tobago had 11.5 trillion cubic feet (Tcf) of proved natural gas reserves, a slow decline since 2005, according to the Oil & Gas Journal (OGJ). The country produced roughly 1.5 Tcf of dry natural gas in 2014, according to Trinidad and Tobago's Ministry of Energy and Energy Industries.
  • Together, BP Trinidad and Tobago (BPTT), the largest natural gas producer in the country, and British Gas Trinidad and Tobago Limited (BGTT) account for more than three-fourths of total natural gas production, according to the Ministry of Energy and Energy Industries.
  • Trinidad and Tobago house one of the largest natural gas processing facilities in the Western Hemisphere. The Phoenix Park Gas Processors Limited (PPGPL) natural gas liquids (NGL) complex was the second major acquisition made by the National Gas Company (NGC) in August 2013. It is located in the Post of Savonetta and has a processing capacity of almost 2 billion cubic feet (Bcf) per day and an output capacity of 70,000 barrels per day (bbl/d) of NGL.
  • Trinidad and Tobago's electricity sector is fueled almost entirely by natural gas. Gross power generation in 2014 was 9.2 terawatthours (Twh), according to BP's 2015 Statistical Review. The government commissioned the country's second combined cycle gas-fired power plant with a capacity of 720 megawatts at the end of 2013 to serve both industry and the power grid.

Petroleum

  • Trinidad and Tobago had 728 million barrels of proved crude oil reserves by the beginning of 2016, according to the OGJ. The country produced 114,000 bbl/d of petroleum and other liquids in 2014, of which 81,000 bbl/d was crude oil including lease condensates, and the remainder consisted mostly of NGL.
  • Petroleum and other liquids production in Trinidad and Tobago peaked at 179,000 bbl/d in 2006. However, it has declined overall since then because of maturing oilfields and operational challenges, according to BP Statistical Review of World Energy.
  • There are several export-oriented refineries located in the Caribbean that primarily supply the U.S. market. With a crude oil distillation capacity of 168,000 bbl/d, Trinidad and Tobago's state-owned Pointe-a-Pierre refinery is one such hub. It is also the only refinery in the country and is currently being improved for overall profitability and competitiveness. Plans for two new refineries, with an aggregate refining capacity of 278,000 bbl/d, were proposed in the past, but these projects have not advanced.
  • Petrotrin, the state-owned oil and gas company and largest crude oil producer in the country, is looking to identify oil and gas deposits for further exploration and finished a 197-square mile seismic survey in May 2014.
  • Trinidad and Tobago has eleven ammonia plants and seven methanol plants and is the world's largest exporter of ammonia and the second-largest exporter of methanol, according to the Trinidad and Tobago's government.