BP and EOG Resources to Develop Major Trinidad Gas Field by 2026

Core Viewpoint - BP plc and EOG Resources are in discussions to develop a significant natural gas field off the coast of Trinidad and Tobago, which could enhance BP's natural gas portfolio [1][2]. Group 1: Project Details - The natural gas field holds nearly 1 trillion cubic feet (tcf) of natural gas, with plans to integrate it with another BP discovery, bringing the total potential development to 1.5 tcf [2]. - Initial production, referred to as "first gas," is expected by late 2026, aimed at supplying Trinidad's Atlantic LNG facility, where BP and Shell each hold a 45% equity stake [2][3]. Group 2: Strategic Importance - Trinidad and Tobago is the largest LNG exporter in Latin America and the second-largest exporter of methanol and ammonia globally, making the Atlantic LNG output significant for BP's LNG portfolio [3]. - The collaboration between BP and EOG Resources is a strategic effort to enhance gas production in Trinidad and Tobago, ensuring supply for domestic and international markets while supporting BP's broader ambitions in the LNG sector [6]. Group 3: Joint Venture and Future Plans - BP's Trinidad and Tobago division confirmed active negotiations with EOG Resources to form a joint venture for developing BP's Coconut field, with EOG set to be the project operator [4][5]. - BP is also collaborating with Woodside Energy to develop the Calypso gas discovery in deep waters, indicating a focus on larger discoveries for the company's future in the region [5].