Trinidad and Tobago’s Liquefied Natural Gas (LNG) exports have exhibited significant fluctuations from 2013 to 2023. The volume stood at 10.95 billion cubic meters in 2023, reflecting a modest increase of 0.36% year-on-year. Noteworthy is the volatility in earlier years, with drastic declines observed in 2016, 2020, and particularly 2021. The 5-year CAGR from 2018 to 2023 presents a decline of 7.96% annually, indicating a downward trend over the period.
Forecasts from 2024 to 2028 suggest stabilization, with annual growth remaining relatively flat at around 0.15% CAGR. The projected volume for 2028 is 11.07 billion cubic meters, marking a slight growth of 0.76% over the five years.
Trends to watch for in the future include:
- Regulatory changes impacting LNG production and exports.
- Global demand shifts due to energy transition to sustainable sources.
- Technological innovations in extraction and liquefaction processes.
- Geopolitical dynamics affecting export markets and pricing.
