Released July 12, 2024 | SUGAR LAND
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Shell plc (NYSE:SHEL) (London, England) will expand its presence in the Caribbean Islands by developing a gas field between Venezuela and Trinidad and Tobago.
Shell announced on July 9 its final investment decision (FID) on the Manatee gas field project offshore Guyana, near the Venezuelan border. The gas field is expected to start production by 2027 and reach a peak production of 104,000 barrels of oil equivalent per day (BOE/d).
With this development, Shell expects to expand its natural gas supply for Trinidad and Tobago's Atlantic LNG facility. The Caribbean islands have faced lower natural gas production levels in the last few years, impacting its capacity to export liquefied natural gas (LNG).
In addition to Manatee, Shell also produces gas at the Dolphin, Starfish, Bounty and Endeavour fields offshore Trinidad and Tobago.
The British company expects to expand its LNG business by 20%-30% by 2030, compared to its 2022 production levels, making the development of Manatee even more important. Shell controls 100% of Manatee's working interest.
"This project will help meet the increasing demand for natural gas globally while also addressing the energy needs of our customers domestically in Trinidad and Tobago," said Zoë Yujnovich, Shell's Integrated Gas and Upstream Director. "The investment bolsters our world-leading LNG portfolio in line with our commitment to invest in competitive projects that deliver more value with less emissions," she added.
Manatee is connected to the Loran gas field, which lies in Venezuelan territorial waters. In 2019, the governments of Trinidad and Tobago and Venezuela agreed to develop their respective share of the Loran-Manatee gas field.
The gas reservoir contains 10.25 trillion cubic feet (TCF) of natural gas in reserves, of which 73.75% belongs to Venezuela while the Caribbean Islands own the remaining.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here to view reports on the project.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Shell announced on July 9 its final investment decision (FID) on the Manatee gas field project offshore Guyana, near the Venezuelan border. The gas field is expected to start production by 2027 and reach a peak production of 104,000 barrels of oil equivalent per day (BOE/d).
With this development, Shell expects to expand its natural gas supply for Trinidad and Tobago's Atlantic LNG facility. The Caribbean islands have faced lower natural gas production levels in the last few years, impacting its capacity to export liquefied natural gas (LNG).
In addition to Manatee, Shell also produces gas at the Dolphin, Starfish, Bounty and Endeavour fields offshore Trinidad and Tobago.
The British company expects to expand its LNG business by 20%-30% by 2030, compared to its 2022 production levels, making the development of Manatee even more important. Shell controls 100% of Manatee's working interest.
"This project will help meet the increasing demand for natural gas globally while also addressing the energy needs of our customers domestically in Trinidad and Tobago," said Zoë Yujnovich, Shell's Integrated Gas and Upstream Director. "The investment bolsters our world-leading LNG portfolio in line with our commitment to invest in competitive projects that deliver more value with less emissions," she added.
Manatee is connected to the Loran gas field, which lies in Venezuelan territorial waters. In 2019, the governments of Trinidad and Tobago and Venezuela agreed to develop their respective share of the Loran-Manatee gas field.
The gas reservoir contains 10.25 trillion cubic feet (TCF) of natural gas in reserves, of which 73.75% belongs to Venezuela while the Caribbean Islands own the remaining.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here to view reports on the project.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
