The National Gas Company of Trinidad and Tobago Limited (NGC) has shipped its first two cargoes of Liquefied Natural Gas (LNG) from Atlantic’s Trains 2 and 3 since the commercial restructure of Atlantic in December 2023. The shipments left Atlantic’s facility in Point Fortin on November 26th and December 6th 2024, bound for Italy and Egypt respectively.
Under the new commercial structure of Atlantic, NGC - through its shareholder company, NGC Trinidad and Tobago LNG Limited (NGC LNG) – acquired a 5.7% shareholding interest in Trains 2 and 3 with effect from October 1st 2024, which will further increase to 10% in May 2027 when Train 4 is included under the new commercial arrangement.
From October 1st, based on its expanded equity interest, NGC is entitled to its pro-rata share of the Trains 2 and 3 processing capacity, which could result in approximately six (6) additional LNG cargoes per contract year. These cargoes can bolster the company’s growing energy marketing and trading portfolio and provide additional revenue.
NGC hosted a commemorative event on December 6th at Atlantic’s offices to mark the occasion. Speaking at the event, NGC Chairman Dr. Joseph Ishmael Khan commented:
“When Trinidad and Tobago shipped its first LNG cargo back in 1999, it was a historic prelude to a new era in local energy. Today, we are commemorating what we see as a similarly historic moment for our company and country. The additional cargo entitlements from Trains 2 and 3 mean additional income for us, and additional value for the people of Trinidad and Tobago.”
He further noted: “With natural gas being the cleanest fossil fuel, and projected to remain an integral part of the global energy mix going forward, the more LNG that NGC can market, the greater our contribution to the clean energy transition. We have been working steadfastly to grow as an international, low-carbon energy business, and this milestone achievement moves us closer to our goals.”