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Tuesday, July 29, 2025

PM: Difficult times to continue until new gas production in 2027

by

Kevon Felmine
304 days ago
20240928
 Prime Minister Dr. Keith Rowley delivers an address at the Atlantic’s 25th Anniversary and Restructuring event at the company’s administrative building in Clifton Hill, Point Fortin, yesterday

Prime Minister Dr. Keith Rowley delivers an address at the Atlantic’s 25th Anniversary and Restructuring event at the company’s administrative building in Clifton Hill, Point Fortin, yesterday

KRISTIAN DE SILVA

With low lev­els of gas pro­duc­tion and a less than favourable mar­ket, Prime Min­is­ter Dr Kei­th Row­ley says there will be dif­fi­cult times for T&T un­til new gas pro­duc­tion in 2027.

Dis­cussing the fu­ture of T&T’s gas in­dus­try at At­lantic’s 25th an­niver­sary and re­struc­tur­ing cel­e­bra­tions at Clifton Hill, Point Fortin, yes­ter­day (See page 15), Row­ley said the seis­mic work is pro­gress­ing on the proven fields, such as with Cocuina and Man­akin, giv­ing con­fi­dence that there is a strong flow of gas com­ing from the bor­der and across the bor­der in the medi­um term. There­fore, he said T&T has to be re­spon­si­ble and hold the fort.

“The pe­ri­od be­tween now and the 2027 sec­ond quar­ter would be one of dif­fi­cul­ty for the peo­ple of Trinidad and To­ba­go be­cause the cur­rent lev­els to which we are pro­duc­ing, and the mar­ket sit­u­a­tion, would cause us or should cause us to be re­spon­si­ble and hold the fort with a very good view and good con­fi­dence that come 2027, we would be in a bet­ter po­si­tion with this in­dus­try,” Row­ley said.

Pre­vi­ous­ly, the open­ing to sell gas to At­lantic was on­ly for those who had eq­ui­ty in the plant. How­ev­er, Row­ley said At­lantic’s re­struc­tur­ing has caused third par­ties to in­vest more con­fi­dent­ly, as now, any­one on­shore, off­shore or across the bor­der who in­vests in hy­dro­car­bon re­search and ex­plo­ration and finds gas, will know there is a mar­ket in Point Lisas and Point Fortin, with the pull fac­tor, which is that T&T wants the gas. He said it cre­at­ed an en­vi­ron­ment that elim­i­nates the risk of hav­ing strand­ed fields.


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