Looking Forward

At the height of the downturn Trinidad and Tobago is currently experiencing, when shale gas discoveries in the U.S. dominated headlines, there was a sense of worry that the country’s long-standing oil and gas sector would not recover. This fear has since dissipated and turned into a more cautious optimism for the future of Trinidad and Tobago’s energy sector. While comments on the industry’s complacency are not unfounded, there is every indication that both the government and key players are aware of the need to reexamine the current structures and relationships that define Trinidad and Tobago’s energy sector. Being at the crossroads that it is, even with its mature oil and gas sector, Trinidad and Tobago is set to experience continued growth in the coming years, both domestically and overseas. Although the outlook for the sector is generally positive, it is important to maintain an edge of caution when projecting Trinidad and Tobago’s future. As with any global industry, trends are not isolated to any one market, even in an island economy.