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Sunday, 12 June 2016 19:59

T&T's LNG production falls

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Trinidad and Tobago’s global supply of LNG has officially dropped with production levels way below previous shipment quotas.
 
That news from the BP Statistical Review of World Energy 2016 released this past week.
It's been reported for some time that T&T's LNG supply has fallen but now its official - the ''bible'' of world energy published annually by British petroleum has found that whilst the rest of the world's LNG supply has risen – T&T’s has actually fallen.
 
As a result, the relatively commanding position the country held at 6th place has just narrowly missed being pushed down to 7th.
 
In contrast whilst the top 5 LNG exporters increased their volume of LNG traded in 2015 against 2014 Trinidad and Tobago recorded a shortfall position.
 
There've been changes to the table also - with Australia pushing out Malaysia to become the world's second largest LNG exporter Algeria has also dipped in its LNG output.
 
The world's top five LNG exporters also all increased their trade - with the largest exporter, Qatar, pushing out 106.4 bcm in 2015. 
 
T&T decreased from 19.3 bcm in 2014 to 17 bcm in 2015.
 
Additionally the BP report records Trinidad and Tobago’s proven natural gas reserves falling from 12.2 trillion cubic feet at the end of 2014 to 11.5 tcf at the end of 2015. 
 
Since 2005, gas reserves have gone down 40 per cent from 0.5 trillion cubic metres at the end of 2005 to 0.3 tcm at the end of 2015, which means reserves, regressed to 1995 levels.
 
According to BP's energy report, at the current production rate, Trinidad and Tobago has enough gas for 8.2 years 
 
 
Read 385 times Last modified on Tuesday, 21 June 2016 09:17
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