NGC welcomes the Ministry of Energy and Energy Industries official announcement, made December 5th 2023, that an agreement for a new unitised commercial structure for Atlantic LNG has been successfully executed. This announcement is the culmination of almost five years of demanding yet collaborative negotiations and is a testament to the unending dedication of all shareholders to reach a mutually agreeable outcome. The landmark commercial arrangement for the facility signals the country’s pursuit of excellence on a global scale, in an effort to maximise all opportunities for bolstering the sustainable development of Trinidad and Tobago’s LNG and energy sectors.
Saipem has been awarded two offshore contracts, one in Guyana and the other in Brazil, worth approximately 1.9 billion USD.
In its continuing efforts to solidify partnerships in the petrochemical sector and support the sector’s continued growth, NGC completed the signing of a Gas Sales Contract (GSC) with PCS Nitrogen Trinidad Limited (Nutrien). The contract, one of several with ammonia exporters operating in Trinidad and Tobago, affirms this country’s position as one of the world’s leading exporters of ammonia.
Hess Corporation has announced startup of production from the Payara development on the Stabroek Block offshore Guyana, utilizing the Prosperity floating production, storage and offloading (FPSO) vessel. The Prosperity is expected to reach its initial production of 220,000 gross barrels of oil per day over the first half of 2024 as new wells are brought online. Production capacity on the Stabroek Block is now approximately 620,000 gross barrels of oil per day.
Woodside’s CEO, Meg O’Neill and Shiva McMahon, EVP International Operations spoke at the company’s Investor Briefing Day about the future of the Calypso deepwater development in T&T. The Calypso development is one that the energy industry in T&T is keenly watching.
The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister along with Ms. Penelope Bradshaw-Niles, Permanent Secretary Ministry of Energy and Energy Industries and Ms. Karinsa Tulsie, Deputy Permanent Secretary at the Ministry of Energy and Energy Industries visited the Atlantic LNG, Point Fortin facilities with members of the PETRONAS, Malaysia delegation on 7th November 2023. This was part of the two-day knowledge sharing programme hosted by the Ministry of Energy and Energy Industries.
The University of Trinidad and Tobago has announced the dedication of the administrative building at the UTT Tamana Campus in honour of Professor Kenneth Julien (Emeritus), TC, UTT’s founding Chairman and President.
The Honourable Stuart R. Young, M.P., Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister along with Ms. Penelope Bradshaw-Niles, Permanent Secretary Ministry of Energy and Energy Industries, Ms. Sandra Fraser, Permanent Secretary Ministry of Energy and Energy Industries and Ms. Karinsa Tulsie, Deputy Permanent Secretary at the Ministry of Energy Industries, met with representatives of Petroliam Nasional Berhad (PETRONAS) at the Ministry of Energy and Energy Industries’ Head Office Port-of-Spain on 6th November 2023 as part of a two-day knowledge sharing energy sector visit by PETRONAS to the Republic of Trinidad and Tobago.
PETRONAS has announced that its subsidiary, PETRONAS Suriname E&P B.V. (PETRONAS Suriname E&P), has made an oil discovery at the Roystonea-1 exploration well in Suriname’s Block 52.
The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of The Prime Minister along with Ms. Penelope Bradshaw-Niles, Permanent Secretary, Ministry of Energy and Energy Industries; and Ms. Sandra Fraser, Permanent Secretary, Ministry of Energy and Energy Industries; met with representatives of the Saudi Fund for Development (SFD), a Saudi Arabian government agency. The meeting took place on Wednesday 1st November, 2023 at the Ministry of Energy and Energy Industries’ International Waterfront Complex, Head-Office. The representatives of the Saudi Fund for Development present at the meeting were Mr. Yaser Albakri, Director General of Sectoral Expertise, Saudi Fund for Development and Mr. Yaser Alzuwayed, Director of Development Monitoring, Saudi Fund for Development.
In a demonstration of its unflagging commitment to transparency and alignment with global best practice, The National Gas Company of Trinidad and Tobago Limited (NGC) has published its 6th annual Sustainability Report, covering the period January to December 2022. To date, NGC maintains its leadership role in sustainability reporting among local state enterprises.
The National Gas Company of Trinidad and Tobago Limited (NGC) and Methanex have partnered to sponsor Sustain-U, a sustainability and ESG (environment, social, governance) training platform developed by Caribbean Ideas Academy.
With the political progress taking place between the Government and Opposition in Venezuela, the United States has lifted almost all of the sanctions on the Venezuela oil and gas industry for the next six months, with an expectation that this will be extended once political progress continues to be made towards free democratic elections in 2024. This comes on the back of the announcement of the extension of the waiver on the Dragon field gas project through to October 2025 and the removal of restrictions on the types of payments that Trinidad & Tobago could make for any gas received.
The Energy Chamber of Trinidad & Tobago warmly welcomes the announcement from the Trinidad & Tobago Minister of Energy and Energy Industries, The Honourable Stuart Young, of the further progress with the development of Dragon field and the granting of an amended license from the United States Treasury Department Office of Foreign Asset Control (OFAC) to the Government of Trinidad & Tobago. This amended license, extended through to 25th October 2025, will allow the Government of Trinidad & Tobago to pay for natural gas exported from the Dragon field in Venezuela in any currency or in humanitarian aid.
Paria Fuel Trading Company Limited (Paria) is pleased to announce its partnership with Pennacool.com, a renowned educational company, to donate books to students within our fenceline communities. This initiative aims to foster an environment for learning and to provide educational resources to enhance student’s academic performance.
The 8th Annual Meeting (AGM) of the Shareholders of Trinidad and Tobago NGL Limited (‘TTNGL’), was hosted on 12th October, 2023. The meeting primarily focused on the operang performance of TTNGL and its underlying asset Phoenix Park Gas Processors Limited (PPGPL), and the strategies being pursued to enable growth amid persistent downside risk in the industry.
Methanex Corporation has announced that it has signed a two-year natural gas agreement with the National Gas Company of Trinidad and Tobago (NGC) for its currently idled, wholly owned, Titan methanol plant (“Titan”) (875,000 tonnes per year capacity) to restart operations in September 2024. Simultaneously, the Company announced its intention to idle the Atlas methanol plant (“Atlas”) (Methanex interest 63.1% or 1,085,000 tonnes per year capacity) in September 2024, when its legacy 20-year natural gas agreement expires.
The Energy Chamber of Trinidad & Tobago warmly welcomes the announcement of the 2023 Shallow Water Bid Round earlier today. Coming on the back of the signing of three deepwater production sharing contracts last week and the successful onshore bid round earlier this year, this bodes well for future development of Trinidad & Tobago oil and gas resources. It is important for the future of the country that we have a consistent and active exploration programme within Trinidad & Tobago’s economic zone to ensure that resources are identified, and reserves are brought into production as quickly as possible.
The National Gas Company of Trinidad and Tobago Limited (NGC) continues to demonstrate an unflagging commitment to climate action, through expansion of its Green Agenda portfolio of products and initiatives.
The last few days have seen a flurry of positive developments in the Trinidad & Tobago energy sector: the Trinidad & Tobago and Venezuelan government agreement on the development of the Dragon gas field, the agreement of production sharing contracts for a Shell/bp consortium to explore three deepwater blocks, the NGC – Shell Manatee field offtake contract for domestic gas, the visit from Marubeni and discussions with the Minister of Energy on power, hydrogen and wind, and the recommitment of Hydrogen de France to invest in hydrogen production in Trinidad and the upcoming visit of senior executives from the company. There was also news that bpTT and Shell executives had special meetings with the Board of Directors of NGC, their discussions centered around long-term gas supply, strategies for decarbonisation of the energy and industrial sectors, and mechanisms to help transition the energy value chain to a low-carbon future. All of this is positive news for the future of the Trinidad & Tobago energy sector and they all relate to elements of the Energy Chamber’s six-point plan to secure the future of our gas industry and future exports of gas and petrochemicals.
