Commodity Index Update

HENRY HUB LNG AND WTI CRUDE OIL PRICES

The prices of Trinidad and Tobago’s two major energy commodity exports - oil and LNG -have increased marginally between the last quarter of 2009 and the first quarter of 2010. However, for the second quarter thus far prices have maintained a stable trajectory.  For Henry Hub prices, the winter months saw a small increase in prices while between April and May 2010 prices slipped to $4 per mmbtu from a $5 per mmbtu average in the first quarter.

METHANOL PRICES

On a year-on-year basis, methanol prices have risen by almost 100 per cent spurred by a measured global economic recovery.  The price of methanol is tied to the real estate market and automotive industry as formaldehyde, acetic acid and other methanol based solvents are used in these industries. There has been an increase in the number of housing starts in the US and China while the automotive industry has seen widespread plant closures and downsizing.

PETROLEUM PRODUCTS

Petroleum products including propane, jet fuel, diesel, gasoline and natural gasoline tend to closely mirror crude oil prices, and have seen increases on a year-on-year basis. However, in recent months the prices for these commodities have increased, partially in response to the advent of the summer driving season in the US and anticipated increased air travel for the traditional summer vacation period.

• Corporate Social Responsibility The Energy Chamber promotes the practice of Corporate Social Responsibility in Trinidad and Tobago and the wider Caribbean, with particular emphasis on accountability and transparency, volunteerism and waste disposal.
• Promoting Energy Services The Energy Chamber promotes the growth and development of the Trinidad and Tobago and wider Caribbean energy services sector in both domestic and export markets.
• Competitive Energy Sector The Energy Chamber provides its membership on up to date information on developments in the energy sector. Check our commodity index and energy activity charts.
• The Safe to Work Initiative (STOW-TT) improves the safety performance and increases business opportunities for smaller energy service contractors.
• The
  EICDI The Energy Chamber is working with contractors, operators, training providers and other stakeholders to develop an industry- wide system for assessing and certifying technical competencies in the energy sector.