Jun 2016 Financial News

T&T stagnant as top LNG countries boost production

Jun 10, 2016

All of the world’s top liquified natural gas (LNG) exporters increased the volume of LNG traded in 2015 versus 2014 except Trinidad and Tobago, the BP Statistical Review of World Energy 2016 released Wednesday showed. Trinidad and Tobago barely held on to its position as the world’s sixth largest LNG exporter, as changes at the top saw Australia push out Malaysia to become the world’s second largest LNG exporter, and had Algeria’s volume not fallen too, Trinidad and Tobago would have dropped to the seventh position.

The world’s top five LNG exporters all increased their trade. Starting with the largest, Qatar increased LNG traded from 103.4 billion cubic metres (bcm) in 2014 to 106.4 bcm in 2015. Trinidad and Tobago decreased from 19.3 bcm in 2014 to 17 bcm in 2015.

Ryder Scott anyway

As for total proved reserves of natural gas, revealing what the $1 million Government-concealed Ryder Scott report would have said anyway, Trinidad and Tobago’s proved natural gas reserves fell from 12.2 trillion cubic feet (tcf) at the end of 2014 to 11.5 tcf at the end of 2015. Since 2005, gas reserves have gone down 40 per cent from 0.5 trillion cubic metres (tcm) at the end of 2005 to 0.3 tcm at the end of 2015, which means reserves regressed to 1995 levels. At the current production rate, Trinidad and Tobago has enough gas for 8.2 years (Reserve/Replacement Ratio), BP’s London-based economists wrote.

Source:
Trinidad Express
Friday June 10, 2016

http://www.trinidadexpress.com/20160609/business/tt-stagnant-as-top-lng-countries-boost-production