Abstract
© 2012 International Monetary Fund
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© 2012 International Monetary Fund
June 2012
IMF Country Report No. 12/128
Trinidad and Tobago: Selected Issues
This selected issues paper on Trinidad and Tobago was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on March 15, 2012. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Trinidad and Tobago or the Executive Board of the IMF.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.
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Title Page
INTERNATIONAL MONETARY FUND
TRINIDAD AND TOBAGO
Selected Issues
Prepared by Judith Gold, Mario Mansilla, Hunter Monroe, Machiko Narita, and Joel Okwuokei (all WHD)
Approved by the Western Hemisphere Department
March 15, 2012
Contents
I. The Heritage and Stabilization Fund: Key Issues for the 2012 Review
A. Introduction
B. Background and Portfolio Performance
C. Issues and Recommendations
D. Conclusions
References
II. Developments and Prospects in the Energy sector
A. The Structure of the Energy Sector
B. Recent Developments
C. LNG Exports
D. Conclusions
References
Tables
I.1. Energy Revenue and Transfers to the Heritage and Stabilization Fund
I.2. Budgeted and Actual Crude Oil Prices
II.1. Oil and Gas Reserves
II.2. Inward Foreign Direct Investment in Petroleum Industries
II.3. Planned Energy-Based and Downstream Projects
II.4. Technically Recoverable Shale Gas Resources by Country
Figures
I.1. Energy Revenue and Fiscal Balances
I.2. The HSF Strategic Asset Allocation
I.3. Evolution of the HSF Portfolio
I.4. HSF Portfolio Performance, March 2007–July 2011
I.5. Selected SWFs: Average Annual Rate of Return, 2007–2010
I.6. HSF/IRSF Balance and Public Debt
I.7. Energy Revenue, CG Fiscal Balance, the HSF Portfolio Size and Transfers
II.1. Gross Domestic Product by Sector
II.2. Crude Oil Production by Company
II.3. Crude Oil and Natural Gas Production
II.4. Natural Gas Production by Company
II.5. Natural Gas Utilization by Sector
II.6. Crude Oil Production, Refining, and Imports
II.7. Petrochemical Production
II.8. Natural Gas Reserves
II.9. Percentage of Exports of LNG by Trading Partner
II.10. Natural Gas Price Indices
Box
I.1. Key Recommendations