Policy & Regulation

Industry needs detail on Trinidad’s tax plans

Trinidad and Tobago’s government pledged bold measures for its struggling gas sector this week, but the industry is likely to be sceptical, experts warn Trinidad and Tobago’s government pledged bold measures for its struggling gas sector this week, but the industry is likely to be sceptical, experts warn.
By Chris Noon 5 October 2017 0 27853
Shell's offshore Hibiscus platform. Trinidad plans to import gas from Venezuela using the Hibiscus platform. (Shell)

The government of Trinidad and Tobago is confident it can restore gas production to 2010 levels in the coming years while simultaneously boosting the state’s take from the sector. However, the industry is demanding greater clarity on proposed measures unveiled earlier this week, such as a fixed royalty rate. 

“We are now firmly charting a way forward out of what was a potential gas crisis, and taking steps to ensure that our gas production returns to the 2010 level of [122 million cubic metres per day:...