Though still far below 2013 levels, the country’s largest natural gas producer more than doubled its contribution to the Government coffers last year to US$360.5 million from US$148.7 million the year before, London-listed BP plc’s Payment to Governments declaration showed last week.
The news comes after BP drilled a dry (gas-target) well last month, and amid Prime Minister Dr Keith Rowley’s Netherlands and London visits on which he announced enhanced revenue packages for T&T from the Atlantic liquefied natural gas (LNG) plant. The payment BP made to T&T for the year 2018 was nothing compared to what other countries received: Azerbaijan US$8 billion, United Arab Emirates US$3.4 billion, and Angola US$3 billion.
BP said in its 2019 Outlook: “The increase in LNG exports is led by North America, followed by the Middle East, Africa and Russia. As the LNG market matures, the US and Qatar emerge as the main centres of LNG exports, accounting for around 40 per cent of all LNG exports by 2040.”