October 12, 2009 / 8:16 PM / 10 years ago

Trinidad's LNG exports to U.S. decline

PORT OF SPAIN, Oct 12 (Reuters) - Trinidad and Tobago’s LNG exports to the United States, its major market, declined during the first seven months of the last fiscal year, while increased shipments went to higher priced markets in Europe and Asia.

Between October 2008 and April 2009, the United States received 129 billion cubic feet, or 33.2 percent, of the Caribbean nation’s total liquefied natural gas exports, according to the government’s recently published Review of the Economy 2009.

“This, however, represents declines of 6.7 percent in market share and 22.4 percent of U.S. imports when compared to the comparative 2007/2008 period, and reflects increased shipments of LNG to higher priced markets in Europe and Asia,” the document stated.

The United States and Spain are the two largest importers of LNG from Trinidad and Tobago.

Spain’s share of total exports also fell, from 25.6 percent to 24.8 percent, during the first seven months of 2008-09.

About 50.5 percent of natural gas produced in Trinidad and Tobago during that period was utilized for the production of LNG.

LNG for export increased by 4.4 percent to 12,393 million cubic metres, from 11,875 million cubic metres in the October 2007 to April 2008 period.

Last week, a government official said that expansion of Trinidad and Tobago’s LNG production may not go ahead because there is currently not enough extra gas.

The possibility of a fifth train to add to the first four at Atlantic LNG has been on the table for some time, but David Small, director of policy at the Ministry of Energy, told Reuters that it would not definitely go ahead.

Stakeholders in Atlantic LNG’s first four trains include BG Group BG.L, BP Plc (BP.L) and Repsol YPF (REP.MC) (REP.MC). (Reporting by Linda Hutchinson-Jafar, editing by Jim Loney and Walter Bagley)

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