Natural Gas in Trinadad and Tobago

The news in natural gas coming out of the Associated Press today is about Trinadad and Tobago, in which two energy experts say the next set of exploration for natural gas will be critical as an audit shows there are only enough reserves to last until 2019.
The news flavor of Saturday presented by Gregory McGuire, a lecturer of energy economics at the University of the West Indies, St Augustine campus said yesterday the audit figures do not necessarily spell doom for the economy.
Professor McGuire, however, said it definitely shows the need for more exploration.
"This year is critical in so far as a number of new areas are being explored and there is a lot of optimism about it. My eyes are really on the new exploration," McGuire said.
He said that ideally, that Trinadad and Tobago would need finds that average about 1.2 trillion cubic feet of gas per year, given an existing rate of usage of 1.3 trillion cubic feet per year in Trinadad and Tobago.
Trinadad and Tobago reported Professor McGuire noting only two fifths of the marine areas in Trinidad and Tobago have been fully explored, and like, Paul, was confident gas will be found.
Energy Minister Dr Lenny Saith of Trinadad and Tobago said Friday that the existing production rate is 3.9 billion cubic feet (bcf) per day and the projected production rate for the next 12 years is now set at 4.5 (bcf) per day.
Trinadad and Tobago Energy consultant Tony Paul, the managing director of Caribbean Energy Specialists also said the Trinadad and Tobago audit shows the need for more exploration, as the amount of reserves already identified and now in use has been on the decline.