(Trinidad Guardian) Atlantic LNG is now shipping more than 40 percent of all its cargoes to the European market as it tries to cash in on the higher prices and to assist in the growing energy insecurity in Europe caused by the conflict in Europe.
Guardian Media has been able to confirm that the company has significantly ramped up cargoes to Europe with some of the rest going to Caribbean and Latin American markets and Asia.
In a news release the company said it acknowledges the statements made from several industry experts during the first two days of the T&T Energy Conference which echo Atlantic’s analysis about the bright future for LNG.
As the world’s cleanest fossil fuel, LNG has long been cited as being critical to the global energy transition and has gained renewed prominence due in part to the ongoing crisis in Ukraine, the company said in a statement.
It noted that T&T through Atlantic is set to continue playing a key role in providing a reliable supply of LNG to the global market.
For 2022, Atlantic noted that it has already delivered 51 cargoes, with some 41 per cent shipped to Europe.
“Despite shortfalls in gas supply, Atlantic is set to exceed the 122 cargoes shipped in 2021, when 21 per cent was delivered to the European market,” Atlantic said.
It added that given Atlantic’s over 20 years of LNG operating experience and sunk investment costs, the company possesses a strong competitive advantage over newer LNG facilities in the region.
“With a renewed corporate strategy focussed on increasing the facility’s availability and reliability, Atlantic continues to ensure that its facility is available to process all gas delivered to it. This ensures Trinidad and Tobago maintains its position as a significant player in the global LNG business,” Atlantic added.
Atlantic is jointly owned by affiliates of Shell, BP, The China Investment Corporation and The National Gas Company of Trinidad and Tobago.
The company’s LNG is shipped by its customers to Europe, the United States, South America, Central America, the Far East and the Caribbean.
