Natural gas finds fuel optimism
Port Spain
Petroleumworldtt.com
01 27 08
Natural gas discoveries by Canada Superior and Petro-Canada are expected to
bolster optimism about T&T’s energy supply.
The
country’s energy future was doubtful
after the Ryder Scott Hydrocarbon audit was released
last year indicating that at current rates of usage
the country’s natural gas reserves would
last 12 years.
Last
week Canada Superior Energy and its partners,
BG and Challenger Energy Corp announced that they
had made a new natural gas discovery on their “Intrepid” Block
5(c) located approximately 60 miles off the east
coast of Trinidad.
The
company’s chairman, Greg Noval, said
the group was “encouraged by the initial
test results in the first zone and will be moving
up hole in the well to test at least one further
horizon.”
Craig
McKenzie, Canadian Superior’s chief
executive officer, said, “The Victory well
has an estimated flowing rate of more than 100
mmscf/d of natural gas and is condensate rich.”
While
Petro-Canada has yet to make an announcement,
the Tobago News on January 11 reported that Petro-Canada
had discovered “a substantial natural gas
deposit” off the coast of Tobago.
The
find was made in Block 22 located 12 miles off
Tobago’s north coast.
Petro-Canada has declined to confirm that the
discovery consisted of economic quantities.
Energy consultant Anthony Paul said that while
Canada Superior has declined to give a figure,
the information provided indicated that it is a
condensate rich area.
He explained that these energy companies are proving
reserves.
In the case of Petro-Canada, they would move possible
reserves to the proven category.
“This is good news. This is just what the
Government is looking for,” he said.
The Ryder Scott audit put proven reserves at 17.05
tcf, probable reserves at 6.23 tcf and possible
reserves at 7.76 tcf. Cumulatively, it points to
a decline of al three classes of reserves from
34.87 tcf to 31.04 tcf.
Paul noted that the Government needed 1.5 tcf
of gas a year to meet its energy needs.
The issue would then be on how the gas should
be used.
The
Government already prioritised its projects in
last year’s budget and significantly reduced
the number of gas-based projects it will undertake
in the short term. Its intent is to focus on exploration.
Indeed,
the Government has almost halved its priority
projects with the focus being: the Alutrint smelter,
the Essar Steel complex, the Methanol Holdings’ AUM
complex, the gas-to-liquids plant at Petrotrin
and the methanol/propylene/polypropylene (MTP)
project for the development of a plastics industry.
Other projects which the Government had lined
up: the ANSA UAN plant, the Eastern Caribbean Gas
Pipeline, La Brea Nitrogen, Lurgi/Air Liquide Syn
Gas, West Lake Ethylene Petrochemical Project,
Alcoa smelter and LNG Train X have been moved to
Category B.
Story by Asha Javeed from The Trinidad Guardian
The
Trinidad Guardian
Thursday
24th January, 2008
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