The energy sector accounts for about 34.9% of the country's GDP and remains an integral part of the country's long-term economic growth and development.
In an interview with teleSUREnglish, Trinidad and Tobago Chamber of Energy CEO Dax Driver spoke of the country's long and great history in the gas industry.
The Energy Chamber is a membership organization representing some 400 companies in Trinidad and Tobago's energy sector, ranging from small family-owned contractors to large international operating companies in the upstream and petrochemical sectors.
Driver spoke about the state of the gas industry in the Caribbean island, as well as its position in the global market. He also discussed the impact of gas revenues on the population through key sectors such as education, healthcare and social welfare.
In addition, the Director General referred to the agreement signed between Venezuela and Trinidad and Tobago to promote joint projects in the gas and hydrocarbons sector. In this regard, he talked about the benefits of this agreement both for the national industry and the impact at the regional level.
Trinidad and Tobago has been in the oil sector for more than 100 years, developing considerable oil and gas exploration activity on land and in shallow waters, with a cumulative production of more than three billion barrels of oil.
The country is the largest producer of oil and natural gas in the Caribbean, with a hydrocarbon sector that shifted from being dominated by oil to relying primarily on natural gas in the early 1990s.
The Caribbean island is home to one of the largest natural gas processing facilities in the Western Hemisphere. The energy sector accounts for about 34.9% of the country's GDP and remains an integral part of the country's long-term economic growth and development.