Trinidad and Tobago selected oil and gas producer Shell as the preferred bidder for a shallow water block, beating out bids from BP and EOG Resources, three people close to the process said. Trinidad and Tobago has in recent years struggled to feed its liquefied natural gas and petrochemical plants as its natural gas production declines.

SHEL's victory to secure a key shallow water block in Trinidad and Tobago is significant for increasing gas supply to its majority-owned Atlantic LNG project.

Trinidad and Tobago has named Shell as the preferred bidder for a coveted shallow water block, reported Reuters, citing sources. The decision comes as the nation seeks to revitalise its LNG and petrochemical sectors amidst declining gas output.