Energy

With commercial production of crude oil dating back to 1908, T&T’s long history in the energy industry has helped the country punch above its weight in regional and global terms. In 2013 T&T produced 1.5trn cu feet of natural gas, making it the world’s sixth-largest LNG exporter and largest LNG supplier to the US. T&T is also the world’s largest exporter of ammonia and second-largest exporter of methanol. In recent years natural gas has overtaken oil in importance, with crude oil production declining from a high of 144,674 bpd in 2005 to 81,278 bpd in 2013, reflecting maturing oilfields and operational challenges. Even so, the oil and gas sector remains a key pillar of T&T’s economy, accounting for 42% of GDP in 2014, 80% of exports from April 2013 to May 2014, and 34.8% of fiscal revenues for the period from October 2013 to September 2014. This chapter contains interviews with Kevin Ramnarine, Minister of Energy and Energy Affairs; Norman Christie, Regional President, BP Trinidad and Tobago (BPTT); and Indar Maharaj, President, National Gas Company (NGC).