Enill: Only 39 percent LNG sent to US
PORT SPAIN
Trinidad & Tobago Express
Petroleumworldtt.com
03 24 09
ENERGY MINISTER Conrad Enill said 89 percent of Trinidad and Tobago's liquified natural gas (LNG) was exported to the US in 2006, but by last year this figure had fallen to 39 percent, with the rest of the LNG going elsewhere.
He was on Tuesday replying to a motion laid by Opposition Senator Wade Mark who said less drilling by bpTT, BHP Biliton, EOG, Repsol, and Petrotrin threatened huge job-losses in the energy-sector.
Enill said he was aware of the situation and was closely monitoring it.
He also said the US was TT's main market, but added that cargo can be diverted elsewhere to get better gas prices as he gave a breakdown of the LNG markets:
USA (39 percent), Spain (28 percent), Mexico (11 percent), Japan (five percent), Korea (four percent), Puerto Rico (four percent), Dominican Republic (three percent), India (two percent), Argentina (one percent) and Taiwan (one percent). Enill boasted that last year the highest-priced LNG cargo in the world was sold by this country to Korea.
He admitted that there was less drilling being done now, but he was optimistic about the future.
“At this point in time no investor is prepared to invest. In fact we have had four production-sharing contracts which we signed earlier on this year where the promoters have come to us and said, ‘No, we are no longer prepared to move forward.”
He said he expected contracts to be re-negotiated and for contractors to re-enter the market.
Story
by
Sean Doglas
from Trinidad & Tobago
Newsday
Trinidad & Tobago Newsday
Friday, March 20 2009
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