Minister Young establishes new energy relationship with Hungary

Minister Young establishes new energy relationship with Hungary

The Honourable Stuart R. Young M.P. Minister of Energy and Energy Industries and Minister in the Office of thePrime Minister; Mrs. Penelope Bradshaw-Niles, Permanent Secretary at the Ministry of Energy and Energy Industries; Mr. Marc Rudder, Deputy Permanent Secretary at the Ministry of Energy and Energy Industries; along with Ministry of Energy and Energy Industries executives, Mr. Timmy Baksh, Director Energy Research and Planning; and Ms. Ayasha Nickie, Director Downstream Petroleum Management Division, met with a delegation representing the Government of Hungary led by His Excellency Mr. Péter Szijjártó, Minister of Foreign Affairs and Trade of Hungary. The meeting took place at the Ministry of Energy and Energy Industries’ International Waterfront Complex, Head Office on Wednesday 17th April, 2024.

The other members of the high-level Hungarian delegation included Mr Balázs Heincz, Ambassador-Designate of Hungary to the Republic of Trinidad and Tobago; Ms. Mónika Bartos, Member of the Parliament of Hungary; and Mr. László Váradi, Deputy State Secretary of the Ministry of Foreign Affairs and Trade of Hungary.

Noting that it was the first visit by a Hungarian foreign minister to Trinidad and Tobago, His Excellency Mr. Péter Szijjártó expanded on the significance of the visit which was the opportunity to deepen trade relations with Trinidad and Tobago, especially in the realm of Europe’s gas diversification efforts, where Trinidad and Tobago can play a key role through an LNG partnership.

His Excellency Mr. Péter Szijjártó also expressed interest in the ongoing developments of Trinidad and Tobago’s gas agreements with Venezuela, including the Dragon field and the Manakin and Cocuina fields.

The Honourable Stuart R. Young M.P., Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister outlined the infrastructure and the capacity of the trains at

Atlantic LNG to meet global demands and Trinidad and Tobago’s strategic position for global LNG exports.

Hungary is set to take over the rotating European Union (EU) Presidency in July 2024 and is therefore advancing its ‘Global Gateway’ values. Both parties agreed that in the interest of global energy security and food security which are tied together, natural gas would remain part of the world’s energy mix. However, there is a need to pursue the energy source in a more sustainable manner and that together their voices are stronger.

Minister Young meets with bp's EVP of Production and Operations

Minister Young meets with bp's EVP of Production and Operations

Honourable Stuart R. Young, M.P. Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, along with Mrs. Penelope Bradshaw-Niles, Permanent Secretary at the Ministry of Energy and Energy Industries, met with bp executives at the Ministry of Energy and Energy Industries’ International Waterfront Complex, Head Office, Port-of-Spain.

Chairman's Address: Process Safety Forum

Chairman's Address: Process Safety Forum

It is my pleasure and privilege to be here with you today as we convene to address one of the most paramount aspects of our industry – process safety.  The Energy Chamber has taken a strategic decision to place a strong focus on process safety and to advocate for measures that will improve process safety (including asset integrity measures) in Trinidad & Tobago.  This includes both measures to be taken by industry through joint efforts as well as measures to be taken by state regulatory agencies.  It is also anticipated that the Energy Chamber will share experiences and lessons learnt with other countries in the Caribbean region.

Heritage commissions new offshore oil well S-938

Heritage commissions new offshore oil well S-938

Heritage Petroleum Company Limited (Heritage) has announced the commissioning of its latest offshore oil well, S-938, marking a significant milestone in its field development efforts. Situated within the Soldado East Field, S-938 has an expected average daily rate of 500 barrels of oil per day (bopd).

Minister Young meets with Methanex Country President

Minister Young meets with Methanex Country President

Mr. Colin Bain, Managing Director and President, Methanex Trinidad and Tobago provided an update on the global operations of the Canadian-based company with a special focus on its operations within Trinidad and Tobago. Discussions surrounded Trinidad and Tobago’s strategic position in Methanex’s global portfolio, as being poised to supply both the domestic blended fuel market and the global shipping markets.

Trinidad seeks US license for BP gas project shared with Venezuela

Trinidad seeks US license for BP gas project shared with Venezuela

Reuters has reported that the government of Trinidad and Tobago has begun talks with the U.S., for a license that would allow the joint development of a natural gas project shared with Venezuela, that also involves bp, Energy Minister Stuart Young said on Thursday.

Stena Provident successfully completes first ever methanol bunkering at the Port of Savannah

Stena Provident successfully completes first ever methanol bunkering at the Port of Savannah

Stena Provident, one of six state-of-the-art methanol fuelled IMOIIMeMAX ships commissioned through the partnership between Proman and Stena Bulk, completed the first ever methanol bunkering at the Port of Savannah, in Georgia, US on 29th February 2024. The vessel, which is time-chartered by Bahri Chemicals, successfully loaded almost 1000 MT of methanol at Colonial Terminals’ Lathrop 2 facility, in an historic first for the port.

Energy Chamber recognises member involvement in oil spill clean-up

Energy Chamber recognises member involvement in oil spill clean-up

The Energy Chamber would like to recognise and highlight the significant role of some of its member companies in the wake of the recent oil spill off the coast of Tobago. The swift response and dedicated efforts of these member companies have played a pivotal role in containing the spill and minimising its impact.

Subsea7 awarded contract offshore Mexico

Subsea7 awarded contract offshore Mexico

Subsea7 announced the award of a large contract by Woodside Energy to provide subsea installation services for the Trion development. The field is located approximately 30 kilometres south of the US / Mexico border and 180 kilometres away from the Mexican coastline, at a water depth of 2,600 metres.

Minister Young advocates for natural gas and energy security at GECF summit

Minister Young advocates for natural gas and energy security at GECF summit

The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister led a high-level delegation from the Ministry of Energy and Energy Industries, representing the Government of the Republic of Trinidad and Tobago, to the 7th Gas Exporting Countries Forum (GECF), Summit, in Algiers, the Democratic Republic of Algeria.

Shell LNG outlook: Global LNG demand to grow beyond 2040

Shell LNG outlook: Global LNG demand to grow beyond 2040

Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as industrial coal-to-gas switching gathers pace in China and South Asian and South-east Asian countries use more LNG to support their economic growth, according to Shell’s LNG Outlook 2024.

Guyana Energy Conference and regional collaboration

Guyana Energy Conference and regional collaboration

“Collaboration” was a word that kept popping up at the Guyana Energy Conference this week, just as it did at the T&T Energy Conference a few weeks ago.  In Georgetown this week there was a strong feeling of collaboration and cooperation between Guyana, the new oil giant and the worlds fastest growing economy, and Trinidad & Tobago, one of the worlds oldest oil producers and an important player in natural gas and petrochemicals.  This was surely helped by the presence of the Trinidad & Tobago Prime Minster, Dr Keith Rowley, and the Minister of Energy, Stuart Young, and strong statements about regional integration from President of Guyana, Irfan Ali and other leaders from Guyana.