Energy Sector Records 2nd Quarter Growth

Energy Sector Records 1.6% Growth in the Second Quarter of 2013

Port of Spain, Trinidad and Tobago—The energy sector grew by 1.6% in the second quarter of 2013, according to Central Bank data. The growth in the first quarter of 2013 was 0.5%.

Minister of Energy and Energy Affairs Kevin Ramnarine is optimistic that there will be continued growth in the energy sector in 2014. According to Minister Ramnarine, the main reason for the anticipated growth in 2014 is the completion of major maintenance works on offshore gas platforms. Maintenance in the natural gas sector started in late 2010.

The maintenance activity in the energy sector in September 2013 was the largest co-ordinated maintenance in the history of the natural gas sector and required co-ordination between the Ministry of Energy and Energy Affairs, BP, BG, Atlantic, NGC and PLEA.

He noted that maintenance works on BP’s Cassia Hub and BG’s Dolphin platform had been successfully completed and had exceeded all expectations. Ramnarine noted that maintenance of the BP Cassia Hub was completed 25 days ahead of the original 51-day schedule while work on the BG Dolphin platform was completed in the scheduled 18 days. He said the Atlantic Train 3, which went down for maintenance on September 3, 2013, was already back up and running. The September Atlantic Train 3 turnaround was the largest in Atlantic’s 14-year history of operations.

With the completion of major maintenance Ramnarine predicts a positive outlook and growth in 2014 for the energy sector.

Government of the Republic of Trinidad and Tobago
MINISTRY OF ENERGY AND ENERGY AFFAIRS