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Cuban gas market playing a minimal role

Press Release   •   Aug 28, 2012 14:09 BST

Natural gas plays a minimal role in the Cuban gas market, with natural gas contributing approximately 10% to Cuba's total primary energy mix in 2011.

Cuba does not have any natural gas fired power plants. Cuba recorded around 2.5 trillion cubic feet of gas reserves in 2011. During the same year, natural gas production was 47.5 billion cubic feet while the consumption was 40.6 billion cubic feet.

Cuba's natural gas production is all associated natural gas found within the crude oil reservoirs. The island's geology to date has not proven to be a major source of dry, non associated natural gas reservoirs.

One of the key players within the Cuban gas industry is Sherritt International. Established in 1992, Sherritt's Oil and Gas operations in Cuba have grown from a modest oil recovery program to an intermediate exploration and production business that contributes significantly to the success of the Corporation.

Over the years, Sherritt has demonstrated its ability to find, develop and produce oil and gas in the challenging environment of Cuba's complex fold and thrust belt reservoir.

There is potential for growth in Cuba's gas industry, and the primary focus should be to continue investing in production and reserve base's.

For more information on the Cuban gas market, see the latest research: Cuban Gas Market Report

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