Page 8 - LatAmOil Week 49 2022

LatAmOil TRINIDAD & TOBAGO LatAmOil

For its part, the deal acknowledges that Chinese Eugene Okpere, Shell’s senior vice president
Investment Co. (CIC) will not play an active and country chair for Trinidad and Tobago, also
role in the shareholder reorganisation process. expressed satisfaction with the new agreement.
CIC had held about 10% of equity in Atlantic He said he believed the deal would clear up
LNG’s first production train, and since this unit uncertainty about Atlantic LNG’s future, thereby
is expected to remain offline for the time being, removing obstacles to firms that are ready to
it is not a major driver of the group’s operational invest billions of dollars in gas exploration and
plans. production in Trinidad and Tobago.
The reshuffle has been hailed by Trinidad For instance, he speculated, it could help
and Tobago’s government, with officials in Port attract investors to Manatee, Trinidad and
of Spain pointing out that the new ownership Tobago’s section of a gas field that straddles the
structure is more streamlined and also likely to maritime boundary with neighbouring Ven-
generate more budget revenue. ezuela. Manatee holds about 2.7 trillion cubic
Prime Minister Keith Rowley has also noted feet (76.46bn cubic metres) of gas and is part of
that the government will be able to market its a larger structure, Loran/Manatee, that holds
own LNG on a global basis once the reorganisa- another 7.3 tcf (206.7 bcm) of gas on the Vene-
tion is complete. zuelan side of the border. ™

Trinidad and Tobago releases

green hydrogen roadmap

TRINIDAD and Tobago has announced that it develop a hydrogen-based economy. The docu-
intends to become a leader in the global energy ment notes that such infrastructure gives Trin-
transition by investing in hydrogen production idad and Tobago a head start in the pursuit of
technology. green energy production.
The Caribbean state’s government has out- Some forecasts indicate that 12% of the
lined its plans for facilitating these investments world’s energy demand could be met by hydro-
in its new green hydrogen roadmap. The plans gen power by 2050. Hydrogen energy could, in
were formally released last week in a report enti- turn, prove to be a significant economic boon
tled “Roadmap for a Green Hydrogen Economy for Trinidad and Tobago, which aims to install
in Trinidad and Tobago,” which was drawn 57 GW of offshore wind generating capacity by
up by National Energy Corp. of Trinidad and 2065.
Tobago Ltd (National Energy) in partnership The installation of this capacity is designed
with the Inter-American Development Bank to give the country more than enough capac-
(IADB) on behalf of the Ministry of Energy and ity to generate 25 GW of electric power to feed
Energy Industries (MEEI). electrolysers, which would be used to split water
According to the report, the nation hopes molecules into oxygen and hydrogen. At this
to leverage its existing oil and gas infrastruc- scale, the Caribbean country could turn out
ture, including storage and export facilities, to 4mn tonnes per year (tpy) of green hydrogen.

The green hydrogen roadmap was presented at a recent ceremony (Photo: MEEI)

P8 www. NEWSBASE .com Week 49 07•December•2022