Opinion
- Editorial- Commentary
Trinidad
Guardian:
How
much gas do we have?
It’s amazing how a small throw away remark can
sometimes reveal a grave problem. In the interview
with Minister Conrad Enill reported in the Business
Guardian Jan 3rd 2008 there is there is comment relating
to the Loran/Manatee gas reserves shared with Venezuela:- “It
should be noted that T&T’s stake in the 10
trillion cubic feet is included in the proven reserves
in the Ryder Scott audit, which is a long way from
being monetised.”
These gas reserves were excluded from the proven reserves
in former years, again according to press reports.
The effect of this revelation is enormously important,
but appears to have attracted little notice amoung
the population (as do most reports about our critical
reserves problem).
As of January 1 2005 we had 18.7 trillion cubic feet
of proven reserves. As of January 1 2006 the Ryder
Scott report shows that this figure declined to 16.7
trillion cubic feet.
However Ryder Scott in 2006 included for the first
time some 2 triilion cubic feet of gas that we own
in shared reserves with Venezuela which for very good
reasons were previously excluded.
For valid comparisons we must put all figures on the
same footing, hence our share, some 2 trillion cubic
feet, can be subtracted from the 2006 report, leaving
our reserves at 14.7 trillion cubic feet.
If
this is the true picture I think we should all take
note because the ramifications of this are of
extreme importance to this nation’s future, or
lack thereof. What more evidence is needed that we
are producing at a far greater rate than prudence dictates?
Reg Potter
Glencoe
Editor's
Note: This article was first publish
in Trinidad Guardian, Thursday 10th January, 2008
Petroleumworld reprint this article in the interest
of our readers.
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01/ 13 /07
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