Energy

The oil and gas industry has long been the driver of Trinidad and Tobago’s economy. In 2017 the petroleum sector accounted for 33.7% of GDP, according to the “Review of the Economy 2017” report by the Ministry of Finance. T&T plays an important role as a gas supplier for the Latin American and the Caribbean market, given that Peru is the only other exporter of liquefied natural gas (LNG) in the region. Falling global oil prices and a drop in production have spurred T&T to consider more stable sources of energy to boost its economy. However, despite increasing interest in renewables, the country is still focused on developing its natural gas segment. Upcoming gas projects, including the Dragon gas field deal with Venezula, and recent output figures are encouraging a positive outlook for the sector, with the rebound in gas production levels expected to continue on an upward trajectory. This chapter contains interviews with Franklin Khan, Minister of Energy and Energy Industries; Claire Fitzpatrick, Regional President, BP Trinidad and Tobago; and Mark Loquan, President, National Gas Company of Trinidad and Tobago.