Venezuela’s Energy Reopening Boosts Trinidad and Tobago’s LNG Prospects

Trinidad and Tobago’s gas sector looks set for improvement from 2027. New upstream projects and closer regional cooperation underpin the outlook.

Upstream pipeline and timing

Several developments are scheduled to deliver first gas in 2027. Major operators including bp and Shell lead the wave of activity.

• bp’s Ginger development and the Juniper wells infill programme are targeting first gas in 2027.
• Shell’s Manatee and Aphrodite projects are also slated for 2027 start-ups.
• Mento has already delivered first gas, and Cypre began production in 2025.
• Coconut is expected to come onstream in 2027.

Rystad Energy projects that these and other projects will support supply into the early-to-mid 2030s. A longer-term supply gap may still require further solutions after that period.

LNG capacity, utilisation and recent trends

Atlantic LNG has operated below its installed capacity of 33 million cubic metres. Feedgas shortages forced the shutdown of Train 1 in 2020.

Rystad estimates Trinidad and Tobago’s gas production fell about 15% between 2020 and 2025. LNG’s share of gas utilisation dropped from roughly 55% in 2016–2020 to near 45% from 2021 onward.

Because LNG acted as the balancing segment, improved feedgas could raise utilisation rates. Spare liquefaction capacity exists and could be used as new volumes enter the system.

Cross-border gas and Venezuela

Venezuela’s energy reopening has increased interest in cross-border gas exports. Proximity and existing pipelines make Venezuelan volumes attractive.

Shorter tie-back distances reduce capital needs and speed development. Projects like Dragon and Loran could feed into Trinidad’s infrastructure.

Recent reporting shows Chevron and Shell advancing major Venezuelan deals. Reforms to Venezuela’s oil law granted greater autonomy to foreign firms.

• Chevron’s proposed expansion focuses on Petropiar and Ayacucho 8 areas.
• Shell signed agreements covering offshore gas and onshore oil and gas opportunities.
• Shell’s plans include gas capture, processing, and transport options that could link to Trinidadian routes.

Chevron’s CEO noted more legal and fiscal clarity is needed for larger investments. Energy Minister Roodal Moonilal confirmed Chevron had discussed cooperation on storage and regional shipments.

Moonilal also said the refinery closure pushed Trinidad and Tobago into liquid fuel imports. He added a working Guaracara refinery would have been a significant benefit.

Strategic value and limitations

Cross-border supply can complement domestic production. It can extend the economic life of LNG trains and petrochemical plants.

However, Venezuelan volumes are unlikely to be a sole long-term fix. They are a practical and credible stabiliser because of geography and lower development barriers.

Implications for industry and policy

The incoming production wave should relieve feedgas constraints for downstream industries. Higher feedgas availability can improve LNG utilisation and export performance.

Policy and investment decisions in the near term will determine how fully Trinidad and Tobago can capitalise on this window. Coordinated regional strategies could strengthen the country’s role as a Caribbean energy hub.

Filmogaz.com reporting and industry data underpin this analysis. Stakeholders now face a narrow period to convert growing momentum into lasting gains for the sector.