The Energy Chamber of Trinidad and Tobago is urging Government to secure its long term revenue by encouraging investment now.
Noting the recent bid rounds were very unlikely to deliver additional gas or oil to the market before the 2030s, the Chamber says there is an urgent need to stimulate more investment in existing acreage in the short-term. This is to be able to deliver gas to downstream plants and the LNG facility.
The body advises one of the mechanisms to stimulate that investment is fiscal reform. It adds in the 2023/2024 Budget presentation, no changes were introduced to stimulate investment in natural gas production, except some potential changes in the structure of capital allowances which may help the economics of projects.