BP group chief economist Spencer Dale

‘market getting tougher’: BP group chief economist Spencer Dale delivers his presentation of the bp Statistical Review of World Energy 2019 at Hyatt Regency, Port of Spain, yesterday. 

BP Group chief economist Spencer Dale believes Trinidad and Tobago is “at the moment” a competitive producer of natural gas.

However, he says keeping gas production levels up while at the same time maintaining competitive prices will be a “difficult challenge” going forward.

“I think the issue associated with T&T going forward is clearly you have big declines in terms of your natural gas. Can you carry on producing the new gas at that same competitive price?” he asked.

He however noted that maintaining gas production levels and competitive prices were not impossible objectives.

“That’s not saying you can’t do it. I’m just saying this market is getting tougher as it’s getting more integrated and more competitive. That’s a good thing, but it means you have to be lean to stay competitive,” he said.

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