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In 2022, following the Russian invasion of Ukraine, the disruption of energy supply chains in Europe triggered a continental scramble to find alternatives to Russian oil and gas. The resultant tightening of energy supply, logistical challenges, and soaring prices have undermined European energy security. This has been a particularly destabilising consequence of the war—you cannot produce and feed, sustain and grow, defend and rebuild without a secure supply of energy.
Trinidad and Tobago has played a crucial role in the global oil and gas market, with these industries being the backbone of its economy for years. However, as the world shifts towards renewable energy and a low-carbon future, oil and gas companies in the country are facing the pressing need for digital transformation.
The Caribbean Centre for Renewable Energy and Energy Efficiency (CCREEE) and the St Lucia-based Caribbean Electric Utility Services Corporation (CARILEC) have signed a Memorandum of Understanding (MoU) to cooperate and share technical data, information, and knowledge related to the region’s energy sector.
Spending on conventional oil and gas exploration is growing and expected to top $50 billion this year, the highest since 2019, but operators are still waiting for the results they had hoped for. Rystad Energy’s research shows that despite the rising investments, discovered volumes are falling to new lows.
It is well known that natural gas production in the Trinidad and Tobago economy has been on the decline and in this context, to ensure the survival of the downstream petrochemical sector, the suggestion by policymakers is to make a switch from grey hydrogen usage to green hydrogen usage.
With a nominal CO 2 capture capacity of up to 36,000 tonnes per year when fully operational, Mammoth located in Iceland is a key milestone on Climeworks’ ambitious scale-up plan of reaching multi-megaton capacity in the 2030s and gigaton capacity by 2050.
The European Commission has adopted the rules governing the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase, which starts on October 1, 2023 and runs until the end of 2025.
Origin Materials, Inc., the world’s leading carbon-negative materials company with a mission to enable the world’s transition to sustainable materials, and Proman, a global leader in natural gas-derived products and one of the world’s largest producers of methanol, announced a strategic partnership centred on low-carbon biofuel production utilising Origin’s technology platform and Proman’s worldwide fuels capabilities and expertise.
Not everyone is on the same page – neither the ‘business as usual’; ‘time for change’ nor the ‘and –not or’ page. Are the divisions across industry a reflection of the global community or is the global community a reflection of industry? Which is the cause, which is the effect; what is a need versus what is a want – and does it matter? The truth is, our planet is in trouble.
EnergyNow Issue 45 now available
The Honourable Stuart R. Young MP Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister received a courtesy call from Shell Executives at the Ministry of Energy and Energy Industries’ International Waterfront Complex Head Office, Port-of-Spain.
Touchstone Exploration has announced that the Cascadura natural gas and liquids facility has safely delivered first production.
In an effort to increase the number of voluntary blood donors locally, the Ministry of Health will partner with the Energy Chamber of Trinidad and Tobago to host a series of blood donation initiatives.
Woodside EOI for the provision of Geophysical and Geotechnical Survey Services in T&T.
Touchstone Exploration has provided an update on the Royston-1X well production testing, commissioning of the Cascadura natural gas and liquids facility, and operations at Coho. Touchstone has an 80 percent operating working interest in the Royston-1X sidetrack well and the Cascadura and Coho fields, all of which are located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20 percent working interest.
Ramps Logistics Limited has signed a letter of intent with Flying Ship Technologies Corporation to introduce unmanned autonomous, eco-friendly, wing-in-ground-effect vessels, or "Flying Ships", to the Caribbean and South America. This innovative collaboration will revolutionize shipping in the region by decreasing vessel costs, significantly cutting shipping time, and reducing our carbon footprint.
The Ministry of Energy has indicated that Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, The Honourable Stuart R. Young, MP met with Woodside Energy executives today, Tuesday 22nd August, 2023 for an update and discussion on the Calypso Deepwater project.
The Report outlines our progress in achieving the company’s environmental, social and governance ("ESG") objectives in the 2022 year and represents Touchstone's third year of ESG reporting.
Origin Materials, Inc. the world’s leading carbon negative materials company with a mission to enable the world’s transition to sustainable materials, and Proman, a global leader in natural gas-derived products and one of the world’s largest producers of methanol, today announced a strategic partnership centered on low-carbon biofuel production utilizing Origin’s technology platform and Proman’s worldwide fuels capabilities and expertise.
At the T&T Energy Conference in January 2023 one of the key sentiments coming out of all of the discussions was that while we were on the right pathways to secure the future of the sector we simply needed to be moving faster. This was a sentiment we heard not just from industry leaders but also from senior government leaders, especially the Minister of Energy, Stuart Young.
