According to most projections, natural gas will play a significant role in the energy mix as the world transitions to lower carbon fuels and renewable energy. The market for fuel like coal and heavy crude will decline, while growth is still expected for natural gas and LNG. 

Touchstone has safely commissioned the flowline connecting the Cascadura C surface location to the Cascadura natural gas processing plant, which ties in our Cascadura-2ST1 and Cascadura-3ST1 wells. Additionally, a new natural gas separator has been installed and brought online, expanding the plant's gross natural gas processing capacity to approximately 140 million cubic feet per day.

bp has completed its acquisition of the remaining 50.03% interest in Lightsource bp, one of the world’s leading developers and operators of utility-scale solar and battery storage assets.

Paria Fuel Trading Company Limited (Paria) is proud to announce its achievement of attaining International Sustainability and Carbon Certification (ISCC), a critical step toward integrating with the European market’s stringent environmental standards. This certification not only reinforces Paria’s commitment to sustainability and transparency but also highlights the broader economic and environmental benefits for Trinidad, the Caribbean region, and their energy exports.

The past year has been marked by some pivotal developments in the Trinidad & Tobago energy sector which we hope will set a positive future trajectory the industry, notwithstanding ongoing challenges.

There are many deep and productive relationships already in place at the level of government, industry and individuals. With the exciting prospects in store for the Surinamese energy sector, I expect that many more mutually beneficial business relationships will build on the existing strong foundations.

The Ministry of Energy and Energy Industries (MEEI) has reported that pursuant to proceedings filed by the Republic of Trinidad and Tobago in the Republic of Angola the tug Solo Creed has been ordered by the Court to be arrested to secure the claim of Trinidad and Tobago.

The Ministry of Finance, Economic Development, Climate Resilience, and Social Security for the Government of the Commonwealth of Dominica has announced that Kenesjay Green Ltd. (KGL), a key green energy Caribbean project developer, will conduct the Pre-Feasibility Work for the production of Green Ammonia via the utilization of geothermal energy from Dominica.

The Hon. Stuart Young, Acting Prime Minister and Minister of Energy and Energy Industries toured the Mento platform at the TOFCO fabrication yard in La Brea. The platform is in the final stages of construction as it gets ready for sailaway within the coming weeks.

The Honourable Stuart R. Young S.C., M.P Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister toured the PXGEO 2 seismic vessel and met with its specialist crew on 26th September 2024.

bp Trinidad and Tobago (bpTT) and EOG Resources Trinidad Limited (EOG) have agreed to partner on the Coconut gas development. Coconut will be a 50/50 joint venture with EOG as operator. The final investment decision has been taken by the joint venture partners and first gas is expected in 2027.

Perenco T&T Limited has announced the introduction of hydrocarbons into the newly installed 37-kilometer 10” pipeline from the Teak Alpha Production platform to the Galeota Terminal. This marks the end of the broad-scoped project involving extensive multidisciplinary teams.

Phoenix Park Gas Processors Limited (PPGPL) continues to establish strategic partnerships with key stakeholders in the industry as evidenced by a meeting with His Excellency Victor Hugo Morales Meléndez, Mexican Ambassador to Trinidad and Tobago and his senior executives on August 20, 2024. The event is part of a series of planned collaborative efforts with key stakeholders, as PPGPL aggressively pursues its growth agenda for its base business in Trinidad and its US subsidiary, Phoenix Park Energy Marketing LLC (PPEM).

The alliance aims to improve capital efficiency in Site Projects, starting in bp’s North Sea portfolio and expanding to include projects in Trinidad and Tobago later this year. Utilising high value engineering solutions and capabilities will achieve targeted cost savings and deliver more efficient projects.

Methanex Corporation (Methanex) and its subsidiary, Waterfront Shipping, today marked another milestone in the global maritime industry by completing the first ship-to-ship methanol bunkering demonstration in the Caribbean. Conducted at the Port of Point Lisas in Trinidad and Tobago, this landmark demonstration was made possible through collaboration with the National Energy Corporation of Trinidad and Tobago Limited (National Energy), Paria Fuel Trading Company, NYK, Green Marine, Bunker Holding, Uni-Tankers and Dan Bunkering.

The Ministry of Energy and Energy Industries (MEEI) has advised that the re-floated ‘Gulfstream’ barge, has successfully been towed to Port-of-Spain, Trinidad. 

The Sea Lots Channel and Turning Basin has been fully restored to its original design depth for the first time in approximately 15 years.

Trinidad and Tobago NGL Limited (TTNGL) continues to post a solid financial performance for 2024. Following the uptick of its profits in Q1, 2024 performance, TTNGL, according to The NGC Group Chairman, Dr. Joseph Ishmael Khan, recorded a profit after tax of TT$46.7 million for the six months ended 30 June 2024. This represents a remarkable year-on-year improvement of TT$49.5 million compared to the corresponding period in 2023 when the company recorded a loss of TT$2.8 million. This substantial recovery translates to earnings per share of TT$0.30.

McDermott has been awarded an engineering, procurement, construction, installation (EPCI), hook up and commissioning contract by Shell Trinidad and Tobago Limited for the Manatee gas field development project, located 60 miles (100 kilometers) off the southeast coast of Trinidad and Tobago.