Trinidad and Tobago Boosts LNG Revenue with Contract Revamp

Trinidad and Tobago is experiencing increases in government revenue from LNG exports. This surge comes as the country sells LNG at higher prices, following renegotiated contracts for its Atlantic LNG project. These changes aim to secure more revenue and recover export volumes after extensive negotiations.

Trinidad and Tobago, the dominant producer of liquefied natural gas in Latin America and the Caribbean, is experiencing a rise in government revenue from LNG exports, Energy Minister Stuart Young announced on Monday.

The nation is benefiting from selling LNG cargoes at prices between 15% and 55% above the Henry Hub benchmark. This increase stems from a recent overhaul of contracts related to the flagship Atlantic LNG project concluded in late 2023.

Following five years of negotiations, the contract revamp established new financial terms for participants, aiming to enhance revenue and recover export volumes, significantly boosting Trinidad and Tobago's economic foothold in the global energy market.

(With inputs from agencies.)