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The National Gas Company of Trinidad and Tobago Limited (NGC) together with its subsidiaries (collectively the Group) announced a profit of TT$$437M which represents an uplift of 292% compared to with the restated loss of TT$228M for the same period in 2020. Cumulatively for 2021, The Group’s financial performance compares favourably with the first half of the previous year and signals a trend of improvement that is expected to continue based on current market conditions.
The Energy Chamber of Trinidad & Tobago has noted the recent announcement concerning the merger of BHP’s Petroleum Division with Australian independent gas producer, Woodside, subject to negotiations and regulatory approval.
BHP has announced its intent to create a global top 10 independent energy company through an agreement to pursue a merger of BHP’s petroleum business with Woodside
Merging BHP’s Petroleum assets with Woodside will unlock synergies and increase value and choice for BHP shareholders. The combined business will offer ongoing value during the energy transition.
Aquaterra Energy, has completed the engineering design for a renewable-powered Sea Swift offshore platform for DeNovo Energy Limited. The offshore platform is part of the development activity for the Zandolie field, located in the Gulf of Paria, off the west coast of Trinidad and is scheduled to be installed in Q4 2021.
The National Gas Company of Trinidad and Tobago Limited (NGC) has published its 2020 Annual Report, themed ‘Embracing Opportunity, Creating Value’.
bp announced that it has agreed Memoranda of Understanding (MoUs) with a series of new potential customers for its proposed clean hydrogen production facility in Teesside in north-east England.
The Board of Directors of the Energy Chamber of Trinidad and Tobago expresses deep sadness over the sudden passing of energy pioneer Bruce Dingwall.
There is positive news for the downstream sector as The National Gas Company of Trinidad and Tobago Limited (NGC) signed a Consolidated Gas Supply Contract (CGSC) with Methanol Holdings (Trinidad) Limited (MHTL), part of the Proman family of companies. This contract will support operations at the MHTL Methanol Complex, which includes the mega-methanol M5 plant, one of the world’s most efficient low carbon methanol producers. Where in the past each of MHTL’s plants was supplied under individual gas sales contracts, the CGSC is a single contract which will govern the sale of gas to the entire complex. This new approach will streamline and enhance contract administration, relationship management, logistics and planning, and give flexibility to MHTL to manage its supply in the most efficient manner.
DeNovo Energy Limited (DeNovo) and the National Gas Company of Trinidad and Tobago (NGC) announced the signing of the Zandolie Field development Gas Sales Contract (GSC) for commercialisation of the Zandolie Field located in Block 1(a).
TotalEnergies and Apache Corporation have encountered oil in the Sapakara South-1 well on Block 58 off the coast of Suriname. This announcement follows previous discoveries at Maka Central, Sapakara West, Kwaskwasi and Keskesi.
bp Trinidad and Tobago LLC (bpTT) announced the installation of the topsides of its Cassia Compression (Cassia C) platform off Trinidad’s east coast.
BHP has announced the signing of a nickel supply agreement with one of the world’s leading sustainable energy companies, Tesla Inc.
ExxonMobil has signed a Memorandum of Understanding to participate in the recently announced Acorn carbon capture and storage project (CCS) in Scotland. The project plans to capture and store approximately 5-6 million tons of CO2 per year by 2030 from gas terminals at the St Fergus complex at Peterhead, Scotland, which includes ExxonMobil’s joint venture gas terminal.
bp has formed an exclusive consultancy agreement with Quaybridge, a leading UK-based renewables consultancy with global expertise in offshore wind. The two will work together to advance bp’s global offshore wind portfolio as part of its zero-carbon growth strategy, and accelerate the building of in-house offshore wind knowledge for bp.
The Energy Chamber began the second phase of administering vaccines to the energy sector on July 21st, 2021. The vaccinations that are part of Phase II of the vaccination drive are being administered by the Acropolis Medical Centre.
Shell Trinidad and Tobago has announced that production has started on Block 5C in the East Coast Marine Area (ECMA) in Trinidad and Tobago.
The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P. has advised that, after consultation with the Minister of Health, the Honourable Terrence Deyalsingh, M.P., the Government is going to allocate a further 5,000 vaccines for application in the Energy sector, when the next tranche of vaccines arrive in Trinidad and Tobago.
bp’s Cassia C platform has sailed away from the Altamira fabrication yard, Mexico and is now on its way to T&T.
The Republic Group has signaled its intention to lend and invest USD$200 million by 2025 to support actions that would help achieve major Climate Finance Goals. These goals will be achieved by activities which include the lending and investment for loans that enable the sale of electric and hybrid cars, loans that are aligned to the promotion of clean fuels, renewable energy and technology, that contribute to an improvement in energy efficiency and construction loans that deploy climate-resilient technologies.
Proman has finalised an agreement to build two additional 49,900 dwt methanol dual-fuel MR tankers, bringing its total investment in methanol-powered vessels to six newbuildings. Proman will be the sole owner of the Provident and Progressive, alongside the Promise which is due to be delivered in Q3 2022. These vessels join Proman’s expanding fleet, including its three jointly owned methanol dual-fuel tankers with JV partners Stena Bulk.
