T&T: Don’t panic

Trinidad and Tobago now has only 12 years of natural gas left to supply the multi-million dollar gas-based projects in the country.

Energy Minister Dr Lenny Saith said yesterday the findings of the audit conducted by the Houston-based firm Ryder Scott for the last two years was not a doomsday prediction.
Saith said yesterday the Ryder Scott audit showed was there was an estimated 37 trillion cubic feet (tcf), identified as gas yet to be explored even though the existing known reserves had declined.

“So it is not a simple matter as if we are running out of gas. What it is saying is that you’ve got to do the things necessary to get exploration going where there is gas,” Saith said.

Asked what would be the ideal timeframe for new gas finds, Saith said: “The timeframe is you better get it by 2018 or 2020.”

He expressed confidence that new finds would be made well before 2019 as two Canadian companies, PetroCanada and Canadian Superior and others were set to begin exploration.

Trinidad Express