Energy

For the past four decades the energy sector has been the backbone of Trinidad and Tobago’s economy. On average, the industry’s contribution to national GDP has been around 40%, although this has ranged from a high of 50.8% in 2008 to a low of 32.1% in 2015. In the fourth quarter of 2015 GDP was down 3% year-on-year, reflecting a 5% contraction in the energy sector. In addition to lower prices, the sector was affected by dwindling output from mature oil fields and plant shutdowns for maintenance and infrastructure work. Results in the downstream sector were more mixed. LNG output fell in the second half of 2015, although refinery output increased after the completion of upgrades at the state-owned Petrotrin plant, and ammonia and urea production was up from a relatively low base in 2014.

This chapter contains interviews with Andrew Jupiter, Chairman, Petrotrin; Norman Christie, Regional President, BP Trinidad and Tobago; and Gerry Brooks, Chairman, National Gas Company of Trinidad and Tobago (NGC).