(Trinidad Guardian) With low levels of gas production and a less than favourable market, Prime Minister Dr Keith Rowley says there will be difficult times for T&T until new gas production in 2027.
Discussing the future of T&T’s gas industry at Atlantic’s 25th anniversary and restructuring celebrations at Clifton Hill, Point Fortin, yesterday, Rowley said the seismic work is progressing on the proven fields, such as with Cocuina and Manakin, giving confidence that there is a strong flow of gas coming from the border and across the border in the medium term. Therefore, he said T&T has to be responsible and hold the fort.
“The period between now and the 2027 second quarter would be one of difficulty for the people of Trinidad and Tobago because the current levels to which we are producing, and the market situation, would cause us or should cause us to be responsible and hold the fort with a very good view and good confidence that come 2027, we would be in a better position with this industry,” Rowley said.
Previously, the opening to sell gas to Atlantic was only for those who had equity in the plant. However, Rowley said Atlantic’s restructuring has caused third parties to invest more confidently, as now, anyone onshore, offshore or across the border who invests in hydrocarbon research and exploration and finds gas, will know there is a market in Point Lisas and Point Fortin, with the pull factor, which is that T&T wants the gas. He said it created an environment that eliminates the risk of having stranded fields.