T&T's Energy Sector
Trinidad and Tobago has a thriving energy sector. Some notable facts:
- Trinidad and Tobago is one of the oldest hydrocarbon producers in the world. We have been in commercial oil production since 1908, with 2011 representing the 100th anniversary of our first commercial oil export.
- Trinidad and Tobago is a major gas location, with a total gas production of 4,325 MMscf per day over the last 5 years.
- Trinidad and Tobago is a major producer of LNG, accounting for 43.4% of US Imports in 2010.
- Trinidad and Tobago is a major petrochemical hub and the world’s major exporter of ammonia and methanol from a single site.
- Trinidad and Tobago’s Atlantic facility was the lowest unit cost LNG facility ever constructed and will likely always hold that record.
- Trinidad and Tobago has the two biggest methanol plants in the world: Atlas and M5000.
- Trinidad and Tobago majority-owned company commissioned a US$2 billion AUM project in 2010.
- Trinidad and Tobago has hundreds of long-established and internationally certified service companies and contractors.
- Trinidad and Tobago is the major supplier of NGL and petroleum products to the entire Caribbean region.
- For the past seven decades, the Trinidad and Tobago energy sector has contributed significantly to the country’s GDP, Government revenues and foreign exchange earnings. In 2012, the energy sector accounted for 43.7% of GDP and 74.1% of export earnings, and contributed 37.0% to Government revenue.
The Ministry of Energy and Energy Industries (MEEI) is responsible for monitoring, controlling and regulating the energy and mineral sectors of Trinidad and Tobago. The MEEI is responsible for the overall management of the oil, gas and minerals sectors in Trinidad and Tobago. These sectors are the largest single contributors to the GDP of the country and the revenues generated provide the resources for the future development objectives of the Government of the Republic of Trinidad and Tobago.
For additional information about MEEI, please click here.