eStore

Trinidad & Tobago energy report

This analysis includes a comprehensive Trinidad & Tobago energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2018 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Trinidad & Tobago energy report
Update: 
February 2021
Format: 
3 files (PDF report, 2 Excel files)
Pages: 
27 (Report only)
Delivery: 

Immediate by e-mail

Price: 
 790 € 

Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.

After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).

 

Highlights

  • In 2017, the Finance Ministry introduced a royalty rate of 12.5% on natural gas, while oil royalties remain at 10-12.5%.
  • Despite the need for diversification, a clear renewable development has not yet been defined.
  • The state-owned oil and gas group Petrotrin was restructured in 2018 and split into several companies.
  • The natural gas upstream sector is operated by foreign companies, mainly BP and Shell.
  • Trinidad & Tobago is the world's 7th largest LNG supplier with Atlantic LNG's four trains. The country exports most of its LNG towards Latin American markets.
  • Electricity production is increasing rapidly (+4%/year between 2000 and 2015), driven by energy-intensive industries such as aluminium and petrochemicals.
  • Electricity prices have remained relatively stable over the past five years.
  • Motor fuel prices increased significantly from 2016 and 2018 with the removal of subsidies.
  • The country ranks third worldwide in terms of per capita energy consumption due to energy-intensive industries such as ammonia, methanol, fertilizers, and aluminium.
  • Gas reserves are depleting quickly and the country is aiming to develop exploration and to stay in the top 10 LNG producers worldwide.
  • Despite limited interest in the most recent offshore exploration auction, several new gas fields should be developed over the coming years, including the Manatee field near the border with Venezuela.

7th

largest LNG supplier worldwide (2019)

8 years

gas reserve on production ratio in 2019

3rd

worldwide in terms of per capita energy consumption

Abstract

  • Institutions & Energy Policy

    The Ministry of Energy and Energy Industries supervises the energy sector.

  • Energy Companies

    Oil:

    The state-owned oil and gas group Petrotrin, which faced massive losses and debts, was restructured in 2018 and split into several companies under Trinidad Petroleum Holdings Ltd (TPHL).

  • Energy Supply

    Oil:

    Between 2006 and 2019, oil production fell by 56% (-6%/year), from 8.5 Mt to 3.8 Mt. According to preliminary statistics, it declined by a further 4% in 2020. This rapid decrease is mainly explained by a faster than expected decline in the production of the Angostura field and by the rapid collapse in the production at Trinmar.

  • Energy Prices

    Oil:

    The price of diesel and gasoline increased significantly from 2016 to 2018 due to the removal of subsidies. Since 2018, gasoline prices have been declining in line with international prices, while diesel prices have remained stable. The price of premium gasoline reached US$0.29/l in 2020 (-42% compared to 2018) and that of diesel US$0.50/l (stable since 2018).

  • Energy Consumption

    The country ranks third worldwide in terms of per capita energy consumption (over 12 toe, i.e. nearly 10 times the average for Latin America and the Caribbean). Electricity consumption per capita is approximately 6 000 kWh (2019).

  • Issues & Prospects

    Gas:

    Today, the gas reserves over production ratio seems insufficient to meet the rate of development and the growth in domestic consumption (8 years vs 38 years in 2000). A reduction in supply could lead to an increase in costs, which would undermine the competitiveness of downstream industries (ammonia and methanol).

Table of Contents

  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

Download the Table of Contents

List of Graphs

Below is a list of the Trinidad & Tobago energy market report graphs:

  • GRAPH 1: CO2-energy Emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2019, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2019, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2019, %)
  • GRAPH 9: Final consumption market share by sector (2019, %)

List of Tables

In the Trinidad & Tobago energy market report you will find the following tables:

  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

Data (Excel Sheet)

The Trinidad & Tobago energy market data since 1990 and up to 2018 is included in the Excel file accompanying the Trinidad & Tobago country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Trinidad & Tobago Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Trinidad & Tobago energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Trinidad & Tobago country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.

Data included in the excelsheet:

  • New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
  • Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.

 

Shopping cart

Your shopping cart is empty.

Secured payment by Banque Populaire des Alpes CB VISA MASTERCARD