One of the wealthiest countries in the region, Trinidad and Tobago relies on its energy industry for 40% of its GDP and 80% of its exports. In recent years the boom of LNG in Trinidad and Tobago, which provides the United States with 70% of its LNG imports, has led to unprecedented growth for the nation and allowed the small country to become an economic center for its area.
“Trinidad is now the business capital of the region,” says Wayne Persad, Managing Director of
Lennox Petroleum Services Ltd., one of the island’s leading providers of general oilfield contracting services both on land and offshore. “Our natural resources, financial system, location and communication links have made us the Caribbean’s most secure investment location and dozens of the world’s leading corporations are active here.”
| “Expansion and diversification is imminent and as an opportunity presents itself we would be willing to go in such direction.” |
The managing director explains that Lennox, which is both STOW and TRACE certified, not only has projects going on in the neighboring Caribbean islands of St. Lucia, Tobago, Jamaica and Antigua, but also has commercial links with many U.S. companies that have set up operations in the country.
Mr. Persad – whose company was founded by his father in 1976 – has had ample experience in oil and gas services, and is open to new opportunities for expansion and diversification, such as a national courier service or a venture in medical tourism.
“Expansion and diversification is imminent and as an opportunity presents itself we would be willing to go in such direction,” he says.
While it is important for Lennox to look globally for business ventures, the company always stays locally minded as well through its charity group, called Friends of Lennox Petroleum, choosing a different cause to assist each year such as schools or community groups.
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