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  5. > Trinidad and Tobago Oil and Gas Report Q4 2016

Trinidad and Tobago Oil and Gas Report Q4 2016

  • August 2016
  • -
  • Business Monitor International
  • -
  • 85 pages

Includes 3 FREE quarterly updates


BMI View:

Shortages of natural gas are expected to persist at least until the start of the Juniper field in late 2017. These supply challenges will continue to disrupt gas exports and comes amid government concerns over the profitability of liquefied natural gas exports. The government has also called for operators to fully exploit existing acreage, suggesting the emergence of tensions between officials and upstream players. While a series of major wells is being planned in 2016, investment has already been delayed due to the current market conditions, underscoring the impact of lower commodity prices. The main trends and developments in the Trinidad & Tobago (T&T) oil and gas sector are:

- T&T disclosed plans to finance a new pipeline that would carry gas from Venezuela's Dragon field, which could contain up to 339bcm of gas. The project would deliver sorely needed new supplies that could help to ease persistent shortages of gas. However the project has not yet been included in our forecasts, given uncertainty over the political and economic situation in Venezuela.

- BHP Billiton commenced its offshore drilling campaign alongside its partner Royal Dutch Shell in May, targeting a major deepwater prospect that was believed to have at least 5bn bbl of oil in place. On August 11, the company announced it has plugged the LeClerc 1 ST01 deepwater well located some 217km offshore after it encountered natural gas in multiple zones but failed to discover oil. The exploration plan will test several additional deposits over the next three years, focusing on the discovery of commercial oil.

Table Of Contents

Trinidad and Tobago Oil and Gas Report Q4 2016
BMI Industry View 7
Table: Headline Forecasts (Trinidad and Tobago 2014-2020) 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast 11
Upstream Exploration 11
Latest Updates 11
Structural Trends 11
Upstream Projects 14
Table: Trinidad and Tobago Major Upstream Projects 14
Upstream Production - Oil 16
Latest Updates 16
Structural Trends 16
Table: Oil Production (Trinidad and Tobago 2014-2019) 18
Table: Oil Production (Trinidad and Tobago 2020-2025) 18
Upstream Production - Gas 19
Latest Updates 19
Structural Trends 19
Table: Gas Production (Trinidad and Tobago 2014-2019) 21
Table: Gas Production (Trinidad and Tobago 2020-2025) 21
Refining 22
Latest Updates 22
Structural Trends 22
Table: Refining Capacity and Refined Products Production (Trinidad and Tobago 2014-2019) 24
Table: Refining Capacity and Refined Products Production (Trinidad and Tobago 2020-2025) 24
Refined Fuels Consumption 25
Latest Updates 25
Structural Trends 25
Table: Refined Products Consumption (Trinidad and Tobago 2014-2019) 27
Table: Refined Products Consumption (Trinidad and Tobago 2020-2025) 27
Gas Consumption 28
Latest Updates 28
Structural Trends 28
Table: Gas Consumption (Trinidad and Tobago 2014-2019) 30
Table: Gas Consumption (Trinidad and Tobago 2020-2025) 30
Trade - Oil 31
Latest Updates 31
Crude Oil: Structural Trends 31
Table: Crude Oil Net Exports (Trinidad and Tobago 2014-2020) 32
Table: Crude Oil Net Exports (Trinidad and Tobago 2020-2025) 33
Refined Products: Structural Trends 33
Table: Refined Fuels Net Exports (Trinidad and Tobago 2014-2019) 34
Table: Refined Fuels Net Exports (Trinidad and Tobago 2020-2025) 35
Trade - Gas (Pipeline and LNG) 36
Latest Updates 36
Structural Trends 36
Table: Gas Net Exports (Trinidad and Tobago 2014-2019) 39
Table: Gas Net Exports (Trinidad and Tobago 2020-2025) 40
Industry Risk/Reward Index 41
Latin America - Oil and Gas Risk/Reward Index 41
Table: Latin America - Composite Risk/Reward Index 41
Composite RRI: Continued Adjustments Level Off Rankings 42
Upstream RRI: Steady Scores Mask Forthcoming Shifts 43
Table: Latin America - Upstream Risk/Reward Index 44
Downstream: NOC Dominance Will Reinforce Fuels Deficit 46
Table: Latin America Downstream Risk/Reward Index 48
Trinidad and Tobago - Risk/Reward Index 49
Upstream Index 49
Downstream Index 50
Market Overview 51
Trinidad and Tobago Energy Market Overview 51
Regulatory Structure 51
Fiscal Regime 52
Table: Trinidad and Tobago - Upstream Tax Regime 52
Table: Trinidad and Tobago - Contracts and Licensing Regime 52
Licensing Rounds 52
Oil And Gas Infrastructure 56
Oil Refineries 56
Table: Oil Refineries in Trinidad and Tobago 56
Oil Storage Facilities 56
Oil Terminals/Ports 56
Table: Trinidad and Tobago - Oil Terminals and Ports 56
LNG Terminals 56
Table: Trinidad and Tobago - Existing and Planned LNG Terminals 57
Gas Storage 57
Table: Trinidad and Tobago - Gas Storage Facilities 57
Table: Trinidad and Tobago -Natural Gas Pipelines 57
Table: Trinidad and Tobago - Crude Oil Pipelines 57
Competitive Landscape 58
Competitive Landscape Summary 58
Table: Key Domestic And Foreign Players 59
Table: Key Upstream Players 60
Table: Key Downstream Players 60
Company Profile 61
Petroleum Company Of TandT (Petrotrin) 61
Table: Table: Major Upstream Assets In TandT 62
Table: Key Financial Data, USDmn 62
BP Energy Company of Trinidad and Tobago (BPTT) 63
Table: Major Upstream Assets In TandT 64
Table: Key Financial Data, USDmn 64
Regional Overview 65
Latin America Overview 65
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025 76
Glossary 78
Table: Glossary Of Terms 78
Methodology 80
Industry Forecast Methodology 80
Source 82
Risk/Reward Index Methodology 82
Table: Bmi's Oil and Gas Upstream Risk/Reward Index 84
Table: Weighting 85

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