LNG

Trinidad’s government confronts gas industry

Trinidad and Tobago’s government is seeking fair dues from the gas and LNG industries, but tackling the tax issues will have consequences Trinidad and Tobago’s government is seeking fair dues from the gas and LNG industries, but tackling the tax issues will have consequences.
By Chris Noon 22 January 2018 0 29254
The Dolphin platform offshore Trinidad. (Shell)

Trinidad and Tobago’s new royalty regime has put Port of Spain on a collision course with the country’s supermajor-dominated gas industry, sources have told Interfax Natural Gas Daily.

Trinidad’s cash-strapped government has followed through on a pledge made last year to apply a blanket 12.5% royalty on the extraction of all gas, condensate and oil. 

A new law effective from 1 January 2018 obliges the holders of both exploration and production licences and production-sharing contracts (PSCs) to pay 12.5% on the “net petroleum won and...