Hungarian foreign minister: Trinidad and Tobago key player in EU’s LNG supply 🔄

Liquefied natural gas (LNG) exports from Central and South America will play an increasingly important role in the European Union’s energy supply, with Trinidad and Tobago being a key player, Foreign Minister Péter Szijjártó said in Port of Spain on Wednesday.

The foundations of the LNG partnership are in place, and its implementation will coincide with Hungary’s presidency of the Council of the EU in the second half of the year, Szijjártó said, according to a ministry statement.

The minister highlighted the significance of his visit to the Caribbean island country, noting it was the first by a Hungarian foreign minister.

Trinidad and Tobago’s gas reserves are estimated at 300 billion cubic metres, he said, also noting its annual LNG capacities of 20 billion cubic metres.

The island country exported 10 billion cubic metres of LNG last year, with more than 4 billion cubic metres being sold to Europe, Szijjártó said. Also, Trinidad and Tobago reached an agreement with Venezuela on joint extraction and exports, he said.

Illegal migration in Trinidad and Tobago

Szijjártó, who on Wednesday is scheduled to meet Trinidad and Tobago’s foreign, sports and energy ministers, noted the EU’s Global Gateway scheme which supports, among other things, development projects needed to import LNG from the region.

“And this year, a decision was reached on making the operations of the energy and petrochemical industries here more eco-friendly than ever before,” the minister said.