The bulk of
oil production from Central America arises from Mexico and Trinidad.
Onshore oil has already peaked whilst offshore peaked in 2004.
Gas production is growing, again from offshore Mexico and Trinidad,
where major new offshore developments are planned.
The oil produced in Mexico and Trinidad ensure that the
region is a net exporter but exports peaked in 2004 after which a rapid
decline has begun and by 2011 the region will need to import oil.
Gas consumption is increasing and exports are growing, dominated by
Trinidad which recently began exporting LNG to the USA. Mexico has
cross-border gas trading with Texas.