The fate of T&T’s continued economic growth could be partially hinged on the success of BPTT and Atlantic finding a solution to the shortfall in gas supply that is projected in 2020/2021, as failure could hurt the country’s revenue stream.
Asked about the worst-case scenario following BPTT’s recent disappointing drilling at two infill wells yesterday, Energy Chamber CEO Dr Thackwray Driver told Guardian Media that it could lead to Atlantic’s Train 1 being mothballed.
The northeast region of Trinidad has the potential to become a gas and oil industry similar to Point Galeota and Guayaguayare which can provide a better quality of life for citizens who live below the economic pyramid.
Prime Minister Dr Keith Rowley has said that this country's gas production is on the rise and that the government is hoping that with some new initiatives production will continue to steadily increase.
Dr Rowley, who was speaking at the opening of the Energy Conference on Monday, said new production is expected to be brought on stream, which will bring this country's production level to 3.9 billion cubic feet in 2019.
Minister in the Office of the Prime Minister Stuart Young has said that the government does not know as yet if the US sanctions on Venezuela's state-owned oil company PDVSA would affected the gas deal between Venezuela and Trinidad and Tobago.
"We are seeking advice to determine how they may affect the deal," Young said in response to a question by Opposition Leader in the Senate, Wade Mark.
He said it was premature at this time to say what, if any, effects it may have.
This country has stocks of Regular gasoline to last until the end of this month and into December.
But the Government is still currently examining ways to determine how best this type of fuel can be imported in the small quantities being demanded, Energy Minister Franklin Khan said yesterday.
Speaking to members of the media at the Gas Exporting Countries Forum (GECF) at the Hyatt Regency, Port-of-Spain, however, Khan rubbished the notion that T&T is experiencing a “fuel situation.”
Feeling the pinch from the increased cost of Super gasoline, scores of motorists are flocking to the Carousel Service Station in San Fernando to fill their tanks with Regular gasoline, commonly sold as fuel for fishing boats.
Regular gas, which has an 87 Research Octane Number (RON), is a lower grade than Super gasoline (92 RON) and Premium gasoline (95 RON).
Not many motorists filling their tanks seem to be concerned with the octane levels of the fuel but rather the drastic price difference.
The NGC CNG Company says it will sponsor the conversion of 1,000 taxis and maxi taxis from gasoline to CNG from January 2019.
In a statement issued Monday, the company said this promotion follows a highly successful, fully-subscribed tranche of conversions in June and July 2018, where 500 taxi and 180 maxi taxi owners were offered sponsored conversions on a first-come, first-served basis.
Successful applicants are currently being converted by government-approved licensed converters.