The retail price of CNG is $1.00 per litre. On switching to CNG, consumers can save:
• 82% of their fuel bill if they used premium gasoline at $5.75/litre
• 68% if they used super gasoline at $3.11 per litre
• 42% if they used diesel at $1.72/litre.
With the gradual withdrawal of subsidies on liquid fuels by the Government in Trinidad, CNG has become even more attractive to use.
Trinidad & Tobago‘s government has propelled a tax-incentive CNG scheme which will benefit stakeholders involved in the CNG/NGV value chain. Compressed Natural Gas (CNG) has promoted and pushed further as a clean fuel for vehicles on the twin island Caribbean state. Fuel subsidies for premium gasoline and diesel are being cut and concurrently being fuelled by a drive to promote a switch to CNG.
The commercial opportunities to develop Trinidad & Tobago’s CNG infrastructure to support the active Natural Gas Vehicles (NGV) has taken a leap forward in the right direction. Strategic partnerships between key stakeholders such as Trinidad & Tobago’s National Gas Co, Petrotrin with international stakeholders have recently taken place The Ministry of Energy recently also states that they are going to phase the introduction of compressed natural gas (CNG) as a vehicular fluid and has established a number of CNG fuelling stations throughout the country that allowed the population to really embrace CNG.
There are concrete plans for investments amounting to TT$2 billion ($306 million), spread over five years to convert over 17,000 vehicles and build CNG-only fuel stations. With that in mind, the upcoming inaugural CNG/NGV Trinidad & Tobago Forum will be the business-critical platform for serious global stakeholders – to gather under one roof – and participate in Trinidad & Tobago’s burgeoning CNG/NGV industry.
This business-critical forum is scheduled to take place on 30 November – 1 December 2016 and will gather over 100 delegates from Trinidad & Tobago and other regions in the Caribbean.