The National Gas Company of Trinidad and Tobago Limited (NGC)has announced the completion and execution of a new Gas Sales Contract (GSC) with Point Lisas Nitrogen Limited (PLNL) that guarantees the continued supply of natural gas to PLNL. The agreement represents a significant milestone for both organisations following a period of constructive engagement aimed at arriving at terms that advanced the interest of both entities.
According to the NGC, the execution of this contract reaffirms the commitment of NGC to continue to provide a reliable and economic supply of gas to its downstream petrochemical customers. PLNL owns and operates a globally competitive plant that produces anhydrous ammonia for international markets. This arrangement will continue to support the operations of PLNL’s ammonia production facility allowing it to satisfy its contractual obligations with its customers while at the same time, adding to the revenue generation of this country.
In a statement from the company, Edmund Subryan, Acting President of NGC, spoke on the negotiating process, and commended the legal and commercial teams of both companies for their dedication, hard work and commitment, to arrive at an economically suitable outcome for both parties. He explained that, “… balancing the needs of various stakeholders requires meaningful dialogue, cooperation, and a shared focus on long-term national interests.” He added that NGC looks forward to strengthening its partnership with PLNL as part of efforts to support a resilient and sustainable downstream domestic energy sector.
In the release, NGC Chairman, Gerald I. Ramdeen, emphasised that, “NGC remains conscious of its role within the country’s energy sector, particularly as this country’s aggregator and supplier of natural gas to downstream industries and as the State entity responsible for maximising value from the nation’s natural gas resources. The execution of the GSC is a solid indicator of the resilience and permanency of the local petrochemical sector.”