The deadline for the Tax Amnesty granted under the Finance Act 2021, has been extended from 17 September 2021 to 01 October 2021.
Over the past few weeks, the Trinidad and Tobago media have reported on ‘mismanagement’ of NGC. While we at NGC support public education and information, it is unfortunate that the focus should be on the specific outcomes that did not deliver expected returns, rather than highlighting the positive investments that have positioned NGC for growth and success in an evolving energy landscape. These include stability of the sector at a time of significant decline, reduction in liabilities and exposure in the future, getting value across the entire energy value chain, and preparing for a green future. Each of those decisions was approached with the same rigour, with the same analysis of risk and return, and in compliance with established policies and procedures.
The NGC Group of Companies has marked yet another significant milestone in its Green Agenda. The National Gas Company of Trinidad and Tobago Limited (NGC), NGC CNG Company of Trinidad and Tobago Limited (NGC CNG) and National Energy Corporation of Trinidad and Tobago (National Energy) (The NGC Group), signed a Memorandum of Understanding (MOU) with The Trinidad and Tobago Solid Waste Management Company Limited (SWMCOL) on Monday 13th September 2021. The MOU will explore opportunities to capture and commercialise landfill gas for use such as the provision of carbon-negative, renewable compressed natural gas.
The agreement signals the Group’s commitment to driving sustainability through strategic partnerships that will leverage opportunities of innovation in carbon capture. NGC has long recognised the need for transformative-thinking and looking beyond its traditional business model and current energy mix to create real impact within the clean energy space. It is well-positioned to take a leading role as the energy landscape transitions to a low-carbon energy future, locally and internationally.
Through this newly formed partnership with SWMCOL, The NGC Group will seek to identify and quantify methane emissions from existing landfills and determine ways to monetise this under-valued source of bio-fuel and green energy. Additionally, the captured methane emissions can potentially be used to fuel SWMCOL’s fleet of vehicles and other official government fleets.
The MOU is one in a suite of Green Agenda projects and partnerships that NGC and its subsidiaries are executing. These include green hydrogen; solar PV project; monitoring of methane emissions through satellite, drone and infra-red technology; carbon sequestration studies in partnership with The UWI; climate change mitigation opportunities in partnership with UTT; membership in the Oil and Gas Methane Partnership (OGMP); an energy efficiency mobile application, Energy SmarTT; and most recently, the launch of a green energy information hub, the CariGreen Website.
At the signing, NGC Group Chairman Conrad Enill remarked: ‘Through this partnership with SWMCOL, The NGC Group is not only poised to make a difference as the nation embarks on its energy transition journey, but to also create new commercial revenue streams for Trinidad and Tobago. NGC will continue to strengthen its Green Agenda thrust by seeking out new and forward-thinking opportunities to support the nation’s sustainability development goals and actions toward climate change.’
The MOU signing event can be viewed using the link https://youtu.be/A8hVvR_T07M
EOI: MINISTRY OF FOREIGN AFFAIRS, INTERNATIONAL BUSINESS AND INTERNATIONAL COOPERATION
The development of Shore Base Facilities in Suriname to serve the emerging Offshore Oil & Gas Industry in the Suriname Basin.
Woodside has joined five parties to establish the HyStation company, which aims to construct and operate hydrogen refuelling stations to service public transport bus fleets in South Korea.
Hess Corporation announced another oil discovery on the Stabroek Block offshore Guyana at Pinktail. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality oil bearing sandstone reservoir. Pinktail is located approximately 21.7 miles (35 kilometers) southeast of the Liza Phase 1 development, which began production in December 2019, and 3.7 miles (6 kilometers) southeast of Yellowtail-1. Pinktail was drilled in 5,938 feet (1,810 meters) of water by the Noble Sam Croft.
Dev Sanyal, executive vice president Gas and Low Carbon Energy, bp - has emphasized bp’s commitment to the continued development of its Trinidad and Tobago business.
Sanyal had a virtual meeting with Minister of Energy and Energy Industries the Hon Stuart Young on Tuesday (Sept 7).
TotalEnergies and its partners have taken the investment decision for the fourth phase of the Mero project (Libra block), located deep offshore, 180 kilometers off the coast of Rio de Janeiro, in the prolific pre-salt area of the Santos Basin.
Transocean Ltd. (NYSE: RIG) announced that BOE Exploration & Production LLC (“BOE”) awarded Transocean a $252 million firm contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas, including a mobilization fee of $30 million. Additionally, the contract provides for a significant performance bonus opportunity based upon agreed operating metrics.
Exxon Request for Information: Quayside and Laydown Area
BHP announced a partnership with Caterpillar Inc. to develop and deploy zero-emissions mining trucks at BHP sites to reduce operational greenhouse gas (GHG) emissions.
Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young M.P. met with the High Commissioner for Canada, His Excellency Kumar Gupta to discuss bilateral arrangements between both countries and energy related matters.
Yara announced the launch of HEGRA at Herøya, Porsgrunn, with former Statnett CEO, Auke Lont as Chairman. The company aims to electrify and decarbonize the ammonia plant at Herøya, enabling large-scale green ammonia production. «HEGRA» is short for HErøya GReen Ammonia, and is co-owned by Yara, Aker Clean Hydrogen and Statkraft each owning 1/3.
Sarawak Shell Berhad (SSB), a subsidiary of Royal Dutch Shell plc, announced that it has taken a final investment decision (FID) on the Timi gas development project and, together with its partners PETRONAS Carigali Sdn Bhd and Brunei Energy Exploration, look forward to delivering this for Malaysia.
Continuing its strategic focus to develop a world-class energy portfolio, The National Gas Company of Trinidad and Tobago Limited (NGC), through its wholly-owned subsidiary NGC Caribbean Investments Limited (NCIL), is pleased to announce the acquisition of Heritage Petroleum Company Limited’s Non-Operated Joint Venture (NOJV) participating interest in Block 3(a), off Trinidad’s east coast. As a result of this acquisition, NGC has increased its participating interest in the block from 11.41% to 31.54%. NGC will now have access to additional equity crude, which will bolster its marketing and trading portfolio. As announced in July 2020, NGC previously executed a Gas Sales Contract with BHP to purchase 100% of the gas produced from Block 3(a) to add to its existing portfolio of natural gas supply.
Shell Brazil Holding B.V. (Shell), a subsidiary of Royal Dutch Shell plc, today marks the start of trading in shares of Raízen S.A. (Raízen), the renewable energy joint venture between Shell and Brazilian energy company Cosan, on the São Paulo Stock Exchange (B3), following the successful execution of an initial public offering (IPO).
The Board of Woodside has appointed acting CEO Meg O’Neill as the company’s Chief Executive Officer and Managing Director.
Ms O’Neill succeeds Peter Coleman who retired from Woodside in June 2021. The appointment is effective immediately.
The study found that the production of green hydrogen and green ammonia using renewable energy is technically feasible at scale in Australia. Its findings also support bp’s conviction that, with its vast potential solar and wind resources, existing infrastructure and proximity to large, long-term markets, Western Australia is an ideal place to develop large scale renewable energy assets that can in turn produce green hydrogen and/or green ammonia for domestic and export markets.
Frontera Energy Corporation and CGX Energy announced the spudding of the Kawa-1 exploration well, offshore Guyana.
The Kawa-1 well is located in the northeast quadrant of the Corentyne block, approximately 200 kilometers offshore from Georgetown. The water depth is approximately 355 meters (1174 ft) and the expected total depth of the Kawa-1 well is 6,685 meters (21,932 ft).