Atlantic LNG: A Regional Powerhouse
The Atlantic LNG facility, a joint venture between energy giants Shell and BP, boasts a substantial production capacity of 12 million tonnes per annum (mtpa). In May, the facility exported 0.83 mtpa of LNG, a notable increase from the 0.58 mtpa recorded in April. This uptick demonstrates a renewed vigor in the plant's operations.
Consistent with global energy market trends, the majority of the cargoes exported by Atlantic LNG in May were destined for Europe, mirroring the patterns seen in the United States' LNG exports. The remaining volumes were shipped to markets in Asia and Latin America, highlighting Trinidad and Tobago's diverse customer base.
BP's Strategic Focus on Upstream Growth
The increase in LNG exports is partly supported by the strategic focus of major shareholders like BP on expanding their upstream production in Trinidad and Tobago. BP has identified the twin-island nation as a key area for growth. In a series of recent announcements, BP confirmed first gas from its Mento development in May, following the successful first gas from its Cypre development in April. Both of these significant projects are located offshore Trinidad and are crucial for ensuring a stable and increasing supply of natural gas to the Atlantic LNG facility.
These upstream developments by BP are critical for maintaining the operational efficiency of Atlantic LNG, which has at times faced challenges with gas supply. With renewed investment and new gas fields coming online, Trinidad and Tobago aims to solidify its position as a reliable and significant player in the global LNG market. The May export figures provide a promising indication of this ongoing effort.