Trinidad & Tobago’s gas economy: challenges and opportunities
Annual General Meeting Luncheon
Featuring Panel Discussion: “Trinidad & Tobago’s gas economy- challenges and opportunities”
Date: 13th October 2016
Time: 12 noon – 2.00 pm
Venue: Hyatt Regency Hotel
Cost: Financial Members: TT$ 675.00 (VAT inclusive) per person
Non Financial Members: TT$ 900.00 (VAT inclusive) per person
Facilitator: Vincent Pereira, President BHP Billiton and Chairman, Energy Chamber of T&T
Norman Christie, Regional Chairman, bpTT and Vice Chairman, Energy Chamber of T&T
Charles Percy, Managing Director Methanex Trinidad and past Chairman, Energy Chamber of T&T
Roger Packer, Managing Director, Tucker Energy Services and immediate past Chairman, Energy Chamber of T&T
Derek Hudson, Vice President, Shell Trinidad and Tobago
Trinidad & Tobago’s gas sector has been negatively affected by both low commodity prices and falling production over the past few years. While projects currently in execution will lead to increased production over the next year, there are serious question marks about the sustainability of the sector over the longer-term. Continued major investment in new gas production is required every year if Trinidad & Tobago is to sustain and grow its gas sector, but investors require clarity about future direction in order to properly understand risk and make investment decisions.
The government has been working on a new gas master plan for the past three years, but clarity on the policy direction has yet to emerge. In the meantime, there are some significant major contracts being negotiated, involving numerous parties across the gas value chain, and there are discussions ongoing on new fiscal terms. This domestic uncertainty is taking place against a global background of significant new supplies of LNG and the reactivation of the petrochemical sector in the USA on the back of shale gas.
At the same time, global commitments to address climate change are increasing demand for natural gas, the cleanest of the fossil fuels, especially for power generation in key emerging markets.
In this low price environment, there is significant pressure to cut costs and service companies have slashed their prices in response. This has led to staff cuts and the cancellation of investment into new technology and equipment. Commentators have expressed concerns about the sustainability of these cuts and the ability of the services sector to recover and respond to increased demand if and when activity in the sector picks up.
This panel of leaders from Trinidad & Tobago’s gas and energy services industries will explore the challenges facing the sector and the opportunities that exist to create a sustainable future for the sector.
12:00 pm - 12-10 pm: Opening Statement, Vincent Pereira, Chairman Energy Chamber
12.10 pm – 12.45 pm: Lunch
12.45 pm - 2.00 pm: Panel discussion, including questions from the floor