Trinidad and Tobago’s natural gas production is around 2.6 billion cubic feet per day (Bcf/d), leaving a supply shortfall of about 40% for downstream demand, according to the Head of the Trinidad and Tobago Energy Chamber.
In an exclusive interview with OilNOW on January 16, Dax Driver said that sustained upstream investment is needed to increase production and keep the country’s gas-based industries running.
“For natural gas, it’s around 2.6 Bcf per day,” Driver said. “If you compare that to the market… there’s a 40% shortfall. So obviously the challenge is to get our production back up.” He said the next two years will be difficult, with new projects helping to maintain output rather than materially increasing it.
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“There is new production coming… which will help sort of maintain those production levels,” Driver said. “But we need constant reinvestment upstream to offset the natural decline which the basin is facing.”
Driver pointed to ongoing spending by established producers as critical to stabilizing output.
He said renewed exploration interest, including ExxonMobil’s return to Trinidad and Tobago, has helped lift confidence but has not yet translated into higher volumes.
“The very fact that it’s the company which has been so successful in Guyana… gives people that sense of optimism and hope,” Driver said.
Beyond upstream activity, Driver outlined policy and structural changes he said are necessary to support higher production. These include faster regulatory approvals, competitive fiscal terms, and protecting gas supply for the petrochemical and LNG sectors.
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Driver also said cross-border gas opportunities with Venezuela could help over the longer term, although risks remain. He stressed that maintaining production is essential to preserving Trinidad and Tobago’s industrial base.
“We need to maintain that industry,” Driver said. “But for that to happen, the investment has to go upstream. It’s quite a simple formula.”
