The National Gas Company of Trinidad and Tobago (NGC) reported a profit after tax of TT$3.46 billion for the 2025 financial year, a 111% surge driven by higher revenues across its gas and liquefied natural gas (LNG) operations and stringent cost-cutting measures.

The state-owned energy firm's earnings, its highest in more than 10 years, jumped by TT$1.82 billion compared with the TT$1.64 billion profit recorded in 2024, Chairman Gerald Ramdeen announced on Friday.

The profit growth was fueled by elevated revenues from natural gas, LNG, and natural gas liquids (NGL) operations, alongside structural cost-containment measures and updated asset valuations. The company also cited improved commercial terms and better alignment of gas volumes for both the domestic market and its LNG business.

"These results reflect disciplined governance, clear strategic direction and a willingness to make the difficult decisions necessary to position NGC and its subsidiaries for success," Ramdeen said. He noted that the board spent the year reducing unnecessary expenditures and extracting greater value from available resources.

The group’s subsidiaries contributed significantly to the consolidated results. Phoenix Park Gas Processors Limited (PPGPL) saw a 26.9% profit increase to TT$216.8 million, driven by higher NGL sales volumes and strong plant availability. PPGPL paid out a US$55 million dividend, its largest in over five years.

Trinidad and Tobago NGL Limited (TTNGL) rebounded from a TT$119.4 million loss in 2024 to post a TT$224.3 million profit, aided by an increased profit share from PPGPL.

To bolster its midstream portfolio and transmission system reliability, NGC also acquired the Trinidad Region Onshore Compressor (TROC) in 2025.

Energy Minister Roodal Moonilal, speaking at the company's briefing, attributed the strong balance sheet to operational streamlining.

"NGC’s unprecedented achievement represented the removal of waste and recurring costs, creating a more efficient operating base without compromising safety, reliability or operational integrity," Moonilal said, describing the company as a critical asset for connecting the country’s energy resources to national development.

Looking forward, the company indicated that current trajectories point toward continued improved financial results for the remainder of the year.