Bright future for T&T gas industry — Prieto
THE Liquefied Natural Gas (LNG) industry in Trinidad and Tobago will “continue strong”, says Oscar Prieto, outgoing chief executive at LNG producer Atlantic.
Speaking at a farewell function in his honour on at the Hilton Trinidad, Prieto said that Atlantic has gas to meet all its current contracts, but the future for Trinidad and Tobago will depend on two things — agreements with Venezuela and new methods of exploration.
“There is gas in Venezuela already discovered, only to be developed and it’s very close to our infrastructure. We could just get it going in two years if the agreements are signed. What the future depends on is finding gas in other horizons and it will show up; the experience in other parts of the world indicates that. It’s unavoidable that we will liquefy the last molecule of gas — it is a finite resource but that will not happen for the next 20-30 years,” said Prieto.
Prieto, 58, is an electrical engineer by training, with over 30 years experience in the oil and gas industry. He has been at the helm of Atlantic for the last five years.
Some of Atlantic’s achievements in the last five years include global benchmarks in safety, operations and maintenance and sustainability (corporate responsibility).
Production has also increased by 10 per cent, contributing some TT$500 million to the local economy.
“We have already achieved Atlantic’s four-year vision as a safe, reliable energy producer and become one of the top rated LNG producers. I did not do this. It was done by the mighty men and women of Atlantic. I want to thank every one of them for sticking together and achieving this,” said Prieto.
Prieto said that despite his “five fantastic years in Trinidad”, he will be returning to his homeland of Argentina to be closer to his family, but offered these words to his as-yet-to be-named successor:
“He will be fine — it’s a great team. Trinidad is not short of talented professionals. I’m not saying this to be nice, I’m saying it for 30-something years around the world. The average Trinidadian engineer or technician professional is way above the average of the rest of the world where I’ve been. So the future in that respect is well.”
