largest LNG supplier worldwide
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 2020 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.
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largest LNG supplier worldwide
gas reserve on production ratio
worldwide in terms of per capita energy consumption
Institutions & Energy Policy
The Ministry of Energy and Energy Industries supervises the energy sector.
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): Heritage Petroleum (E&P), Paria (imports and fuel trading), and Guaracara Refining.
Since 2006, crude oil production has fallen by 57% (-6%/year), from 8.5 Mt to 3.7 Mt. 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.
Around 80% of the oil production is exported (2.9 Mt in 2020); the rest is consumed in the energy sector.
The prices of electricity in the residential and industrial sectors are regulated and have been quite stable since 2009. They are among the lowest in the world, at about US$4.7c/kWh for households and US$3.2c/kWh for industry (2021).
Graph: ELECTRICITY PRICES FOR INDUSTRY AND HOUSEHOLDS (US$c/kWh)
The country ranks third worldwide in terms of per capita energy consumption (around 10.5 toe in 2020 and over 12 toe over 2016-2019, i.e. nearly 10 times the average for Latin America and the Caribbean). Electricity consumption per capita is approximately 6 000 kWh (2020).
Issues & Prospects
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).
Below is a list of the Trinidad & Tobago energy market report graphs:
In the Trinidad & Tobago energy market report you will find the following tables:
The Trinidad & Tobago energy market data since 1990 and up to 2020 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:
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:
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