‘T&T’s natural gas reserves declining’

The Trinidad and Tobago Government is expected to release details of its latest natural gas audit by mid-month following newspaper reports that the Houston-based audit consultant, Ryder Scott, found an 11 per cent decline in the country’s natural gas reserves.

Last week, the Trinidad Guardian quoted sources who said the audit found proven reserves declined from 18.7 trillion cubic feet (tcf) to 16.74 tcf; probable reserves from 9.02 tcf to 7.88 tcf and possible reserves declined from 7.06 tcf to 6.26 tcf. This puts total 2006 reserves at 30.88 tcf, a significant decline from the 2005 reserves of 34.86 tcf.
The country currently has a daily gas production rate of 3.9 billion cubic feet (bcf) with 59 per cent being allocated to LNG production and 41 per cent to the domestic market, which is dominated by ammonia and methanol production.

By 2016, natural gas production is estimated to increase to 5.9 billion bcf with the allocation to LNG amounting to 53 per cent and 47 per cent to the domestic market. Based on current gas reserves position, the Ministry of Energy said it is confident that it can sustain all currently operating and approved new projects and meet domestic demand.

Jamaica Gleaner; as anyone will see, the article is actually called ”T&T’s oil reserves declining’”, but it completely focuses on natural gas.