PORT OF SPAIN, Trinidad (CMC) — The Energy Chamber of Trinidad and Tobago said Thursday that the disruption in the Strait of Hormuz could carry mixed implications for the oil-rich twin island republic.

It said that while crude oil flows have drawn the most attention, the disruption is also affecting other commodities moving through the Gulf, including LNG and fertiliser-related products.

The World Trade Organization’s (WTO) new Strait of Hormuz Trade Tracker shows outbound traffic from the Persian Gulf coming to “almost a complete halt” after Iran’s March 2 announcement of the closure of the strait, with simultaneous breaks in crude oil, LNG, and fertiliser-related shipments at the end of February.

The WTO said the tracker covers crude oil, natural gas, fertiliser-related products including sulphur and ammonia, and agricultural products.

The chamber said the Strait of Hormuz remains one of the world’s most critical energy chokepoints and according to international media reports, the halt to oil and gas shipments through the strait is a nightmare scenario for the global energy system.

“For Trinidad and Tobago, the immediate attraction is on the export side. The country’s gas-based industrial sector is built around LNG and petrochemicals, which generate substantial revenue for the government and are critical for the generation of foreign exchange,” the chamber said.

The chamber said that the LNG angle is especially important, noting that the WTO tracker’s LNG chart shows outbound shipments through Hormuz active through much of February before collapsing into March, reinforcing the idea that the market is dealing with an interruption in real cargo movements, not simply a spike in sentiment.

“For Trinidad and Tobago, that creates a plausible opening: when one of the world’s most important LNG corridors is disrupted, alternative suppliers become more strategically relevant. That does not automatically mean Trinidad will sell dramatically more cargoes, but it strengthens the case that its existing LNG exports could become more valuable in a tighter market,” it added.

“Trinidad and Tobago is still a significant importer of refined petroleum products. According to the Observatory of Economic Complexity, the country imported US$1.43 billion of refined petroleum in 2024, making it one of its largest import categories, while Ministry of Energy bulletins continue to track refined product imports…

“That means higher freight costs, elevated oil prices, or prolonged shipping disruption could feed into the domestic economy through fuel, transport, and business costs, even if exporters benefit from stronger international pricing.

“That leaves Trinidad and Tobago in a familiar position: potentially advantaged as an energy exporter, but still exposed as an importer in a volatile global market. The best local reading of the Hormuz disruption is therefore not as a straightforward windfall, but as a mixed story.”

The chamber said tighter LNG and petrochemical markets could improve the commercial value of the country’s exports, yet local gas constraints and the risk of higher imported fuel and shipping costs could limit how much of that upside reaches the wider economy.