BP secures long-term gas supply for Trinidad Atlantic LNG plant

British oil major BP is advancing plans to guarantee a sustained flow of natural gas to its Atlantic LNG facility by finalising two separate agreements within the Caribbean nation. The energy company recently concluded transactions designed to remove significant hurdles that had previously hindered development in the region, ensuring feedstock availability well into the future for export operations and domestic consumption.

The first transaction involves BP transferring a twenty per cent equity interest in a cross-border gas field to Trinidad’s National Gas Company. This entity is already an established partner alongside BP and Shell at the Atlantic LNG plant. The specific arrangement covers ownership of the Manakin section, which sits within Trinidad waters and accounts for sixty-six per cent of the total resource block known as Manakin-Cocuina. The remaining thirty-four per cent lies in Venezuelan territory where NGC previously held a twenty per cent stake.

Prime Minister Kamla Persad-Bissessar stated that these agreements eliminate major obstacles to field development, allowing BP to accelerate its final investment decision and complete work that had remained unfinished for over ten years. She noted that starting from 2027, seventy-five per cent of the feedstock will supply Atlantic LNG while twenty-five per cent serves domestic needs. The Prime Minister predicted this project would become the first successful cross-border development monetising gas through Trinidad and Tobago.

A second deal was reached last week regarding Block TTDAA 14, where BP agreed to acquire Woodside Energy’s stake in the Calypso gas project on a one hundred per cent basis. This transaction covers an early stage deepwater natural gas venture believed to hold four point four trillion cubic feet of dry gas. The agreement is expected to close by year end and provides potential for new production supporting long-term growth.

BP’s Meg O’Neill confirmed there was ample capacity at Atlantic LNG for the Ginger offshore field, which is scheduled to come online in 2027 alongside other developing assets. The Prime Minister highlighted that securing these deals signals renewed international confidence in the country’s offshore energy potential and ensures critical supply beyond 2030.

The UK-listed supermajor described the Calypso acquisition as a move to reduce costs, maximise infrastructure use from NGC, and secure necessary fiscal support. The Prime Minister remarked that with this purchase, Calypso is alive again following Woodside’s departure from the country.