Increased shale gas production in the US has had a significant impact on the liquefied natural gas exports of Trinidad and Tobago.
Trinidad and Tobago is historically the largest exporter of LNG to the US, but it has reported a sharp decline in North American business.
The country’s energy minister Kevin Ramnarine told Reuters that a year ago, the US accounted for 75 per cent of all LNG exports ” now that figure is 25 per cent.
However, he added that these supplies were being redirected to Asia and South America, particularly Brazil, Argentina, and Chile.
“There is strong demand from Asia, especially Japan, and we are getting better prices there too,” he said.