Trinidad and Tobago is the world’s 17th-largest producer of natural gas and the country’s output increased by 13% in 2023, over 2022. The country accounts for 0.91% of global production, with the world’s other largest producers being the US, Russia and Iran. GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Trinidad and Tobago in its report, Oil and Gas Upstream Production and Capex Outlook by Projects (Crude and Condensate and Natural Gas), Fields (Active, Planned and Announced), Region, Key Countries, Companies and Forecast, 2023-2027. Buy the report here.
Over the five years to 2023, production from Trinidad and Tobago increased by a CAGR of 7% and is expected to rise by a CAGR of 2% between 2024 and 2028.
The largest producers of natural gas in Trinidad and Tobago are BP, Repsol and Shell. BP was the largest producer of natural gas in 2023 with output up by 11% on 2022.
Repsol was the second-largest producer, with output up by 11%, and Shell was third with an increase of 82% on the previous year.
There are 31 natural gas producing fields in Trinidad and Tobago of which 25 are located offshore and the rest onshore. The Atlantic Ocean has the majority of the natural gas fields in the country with 24.
Role of natural gas in the energy transition
Natural gas plays a pivotal role in the global energy transition, serving as a transition fuel towards decarbonisation. As countries navigate the shift from fossil fuels to renewable energy sources, natural gas provides a lower-carbon alternative, aiding in reducing emissions and delivering reliable energy given the fluctuating availability of wind and solar power. Its versatility and abundance make it a key component in the evolving energy mix.
For more detailed analysis of natural gas sector in Trinidad and Tobago, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
