(Energy Analytics Institute, 1.Jan.2021) — Trinidad and Tobago is the leading producer of oil and gas in the Caribbean, and these resources play an important part in the economy. The country also supplies manufactured goods, notably food products and beverages, as well as construction materials to the Caribbean region. Oil and gas account for approximately 40% of the GDP and 80 percent of exports, according to the Gas Exporting Countries Forum (GECF), an international governmental organization which provides the framework for exchanging experience and information among Member Countries.
Recent growth has been fueled by investments in LNG, petrochemicals, and steel. Trinidad and Tobago achieved a century of commercial oil production in 2008. The country is known globally for the development of its natural gas sector. In 2011, the country engaged in providing energy services expertise to other countries to enable the development of their natural gas sector. Additionally, downstream value-added petrochemical and other projects are in various stages of planning, the organization said.
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By Steve Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
