Island nation strives to go green, but oil and gas come first
On a recent April afternoon, a tanker ship arrived at the Atlantic LNG terminal at Point Fortin to pick up a load of deep-chilled gas for Britain.
Because of declining energy export earnings, the nation’s gross domestic product dropped by 20 per cent from 2015 to 2021. The jump in oil and gas prices after Russia’s invasion of Ukraine and a new gas discovery by Shell have led to a small rebound over the past year.In an effort to compensate for the shortfall, the country is seeking to reduce domestic use of natural gas so more can be exported.
A home-grown energy company, Kenesjay Green, is working to produce hydrogen in the Point Lisas petrochemical complex. The company plans to use renewable energy and waste heat from power plants to split hydrogen from water. Shell would operate the field, and a pipeline could connect the field to Trinidad and Tobago’s export terminals in three to four years.
Trinidad and Tobago has offered to pay for the gas in food and medicine, but Mr Maduro has rejected that offer. Analysts said Trinidad needed to move fast or risk losing gas customers to other exporters, such as the US and Qatar, that are building more efficient LNG terminals.
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