Download logoThe recent acquisition of Woodside Energy’s 70% interest in the Calypso gas project by bp marks the latest major move by an IOC to strengthen its position in the Caribbean’s expanding gas market. Subject to government approval, the transaction will give bp 100% ownership of Block TTDAA 14 by the end of 2026, reinforcing its long-term commitment to Trinidad and Tobago’s upstream sector.
The deal comes as Trinidad and Tobago advances a wider pipeline of offshore gas developments. bp is progressing the Ginger gas project, comprising four subsea wells tied back to the existing Mahogany B platform, with start-up expected in 2027. The company is also developing Coconut, a gas field offshore southeast Trinidad that will be tied back to the Cassia hub. Together with Calypso, the projects highlight continued investment in Trinidad and Tobago’s offshore gas resources and the use of existing infrastructure to bring new fields into production.
Shell is pursuing a similar strategy. The company has increased the planned capacity of the Manatee gas pipeline from 700 million cubic feet per day to 1 billion cubic feet per day, with the project targeting first production in 2027. Shell is also progressing the Aphrodite gas development, which will connect to existing infrastructure in the East Coast Marine Area.
The concentration of new projects around established infrastructure is significant. Rather than relying solely on frontier exploration, operators are increasingly looking at how new offshore resources can be developed and connected to existing pipelines, processing facilities, LNG infrastructure and domestic markets. This is creating opportunities across the wider value chain, from subsea and engineering services to gas processing, logistics and power generation.
The trend extends across the Caribbean’s emerging offshore markets. In Suriname, Petronas announced another gas discovery at Block 52 in June, bringing the number of successful wells in the block to eight. TotalEnergies is also preparing a four-well exploration campaign in Block 58 for 2027 alongside the $10.5 billion GranMorgu development, creating a pipeline of both near-term production and further exploration.
Downstream investment is also gathering pace. In The Bahamas, Shell reached a final investment decision in July on an LNG regasification terminal at Clifton Pier, designed to supply natural gas for power generation on New Providence. The project adds another dimension to the regional gas story, as Caribbean countries look to LNG and gas infrastructure to support more reliable and diversified energy systems.
These developments point to an increasingly connected Caribbean energy market. Trinidad and Tobago is leveraging its established gas and LNG infrastructure; Guyana and Suriname are bringing new offshore resources into development; and markets such as The Bahamas are building infrastructure to support greater gas utilization.
The resulting opportunity extends beyond upstream investment. As new resources come online, the region will require capital and expertise across pipelines, LNG, power generation, ports, marine services, engineering, technology and local supply chains.
These trends will be central to Caribbean Energy Week (CEW), taking place in July 2027, where governments, IOCs, NOCs, investors and service providers will examine the projects, infrastructure and partnerships shaping the region’s emerging energy corridor.
The lead-up begins on September 1, when CEW 2027 hosts its official in-country launch in Georgetown. The event will bring together Guyana’s government, energy industry and investment community to examine the country’s expanding project pipeline and its role in a more integrated Caribbean energy market.
With major gas developments advancing in Trinidad and Tobago, new offshore discoveries emerging in Suriname, and Guyana’s production and infrastructure build-out continuing at scale, the Caribbean is increasingly attracting investment not only for its resources, but for the infrastructure and partnerships needed to connect them to regional and global markets.
To register for the Caribbean Energy Week 2027 In-Country Launch in Georgetown on September 1, 2026, visit: https://apo-opa.co/4ivk1NK
Distributed by APO Group on behalf of Energy Capital & Power.
