Trinidad and Tobago and Venezuela
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Trinidad, Venezuela gas trade ‘inevitable’

Bnamericas Published: Thursday, May 21, 2020
Trinidad, Venezuela gas trade ‘inevitable’

The supply of Venezuelan natural gas to Trinidad and Tobago will be inevitable, according to Kevin Ramnarine, an energy consultant and former energy minister for the island nation.

He made the comment during the Institute of the Americas’ XXIX annual La Jolla energy conference.

Ramnarine highlighted the potential development of cross-border fields which could help cover Trinidad’s gas production shortfall.

Geopolitics, however, may keep Venezuelan gas from reaching Trinidad and Tobago for the foreseeable future.

Recently, the countries’ governments agreed to undertake the separate and independent development of the Loran-Manatee field due to US sanctions which block US companies from doing business with Venezuela’s PDVSA.

The trade restrictions also have been blamed for curtailing development of Venezuela’s Dragon field, gas from which would supply Trinidad.

Trinidad energy authorities - which forecast gas production of 4Bf3/d (billion cubic feet a day) by 2024 - envision Manatee contributing 270-400Mf3/d (million cubic feet a day) starting in 2024-25, while first Dragon gas was projected for 2023 with initial output of 330Mf3/d and increasing to peak production of 500Mf3/d.

Gas projects due online this year in Trinidad include a fifth well at BPTT’s Angelin field, and in the coming years, BPTT is expected to bring the Matapal and Cypre fields online as well as the Cassia compression project.

Other gas developments expected to boost gas output in the medium term are Shell projects Colibri and Baracuda, and EOG Resource’s East Osprey project.

The former minister called for greater fiscal incentives to add new impetus to upstream operations in Trinidad but does not expect major announcements in the lead up to this year’s general elections.

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