LNG is one of Trinidad and Tobago’s top exports. Atlantic, the country’s LNG producer, exports to about 17 countries around the world. These can be broken into five regional markets: North America, South and Central America, Europe, Middle East and Africa and Asia Pacific; T&T supplies LNG into each of these markets. T&T exported 10.3 bcm of LNG around the world in 2024, a slight decline from 2023 when the country exported 10.5 bcm and a significant decline from a 10 year high of 17.1 bcm, in 2015.

T&T has one of the most geographically diversified LNG export portfolios, with cargoes going to all major importing regions in the world. 

In 2024, the region which imported the most LNG from T&T was the South and Central American market. The largest market within that group was Chile.

In previous years, 2022 and 2023, Europe occupied the top spot for T&T’s export of LNG. This was mainly driven by Europe’s increased need for LNG from other sources due to sanctions placed on Russian gas, as a result of the Ukraine/Russia war.

When Atlantic was first constructed, the USA accounted for almost all of T&T’s LNG exports. However, since the shale boom in the USA, the country has become less reliant on foreign natural gas. Despite being the largest exporter of LNG, there are one location in the USA, namely New England, that still sometimes imports LNG from T&T; this was a matter for discussion in some of our previous articles.

The Energy Institute recently released the annual Statistical Review of World Energy which gives a snapshot of energy statistics around the world.    Global energy supply increased 2% in 2024, driven by rises in demand across all forms of energy, with non-OECD countries dominating both the share and annual growth rates. Fossil fuels continue to underpin the energy system, accounting for 86% of the energy mix.  Natural gas still accounts for significant proportions of the energy system.

The report indicated that global gas demand returned to growth in 2024, rising by 2.5% (101 bcm).  Total LNG trade remained steady, reaching 115 bcm.  The report shows that US LNG exports to Europe also fell since 2023, with most redirected to the Asia Pacific region. At present, the Asia Pacific region is T&T’s 3rd largest export market.