Energy Minister: Middle East Conflict Could Influence T&T Energy Revenues
Ongoing tensions in the Middle East could have some impact on this country’s energy sector, according to the Minister of Energy and Energy Affairs, Dr. Roodal Moonilal.
However, he assured that there will be no direct disruption to the sector locally.
The Minister made the statements while responding to questions at the Post Cabinet Media Conference.
« We can indicate that given the role of Atlantic LNG, our partners have informed Shell, BP, and of course NGC, they have informed that there will be some impact in terms of revenue that would reflect an increase in revenue over the conflict period. »
Minister Moonilal explained that given this country’s position in the global energy market, any potential benefits are expected to be limited and not particularly significant for Trinidad and Tobago.
« People believe that some of these conflicts give us exorbitant amount of revenue and so on. We do have supply constraints and to be realistic, we have limited upstream output given what has happened over the years. In the last 10 years or so, we have not had this sort of investment in upstream production, so that today we can’t really benefit from this in any sense because we have not had that impact in terms of production upstream. »
