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The Leader of the Opposition, the Honourable Kamla Persad Bissessar has issued a press statement calling for changes to the upstream fiscal regime to encourage investment and to increase production. The opposition leader’s statement focused on exciting the investing community in the increased production of crude oil, in particular.
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.
The Energy Chamber of Trinidad & Tobago warmly welcomes the signing of three deepwater production sharing contracts between the Government of Trinidad & Tobago and a consortium comprised of bp and Shell.
In demonstration of a collective commitment to domestic energy security and the energy transition, The National Gas Company of Trinidad and Tobago Limited (NGC), convened separate special board meetings with Shell Trinidad and Tobago Limited (Shell) and bp Trinidad and Tobago (bpTT). Both meetings took place at the Hilton Trinidad and Tobago Conference Centre on September 22nd 2023, to discuss the path forward for energy. They were joined by The Hon. Stuart Young, Minister of Energy and Energy Industries.
The Caribbean Community (CARICOM) notes with grave concern the contents of a Communique emanating from the Bolivarian Republic of Venezuela regarding the announcement made by our sister Member State, the Cooperative Republic of Guyana, about its intention to open bids for certain oil blocks in the waters adjacent to Guyana’s coast.
The Honourable Stuart R. Young MP Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister along with Mrs. Sandra Fraser, Permanent Secretary (Ag) at the Ministry of Energy and Energy Industries met with Mr. Ryota Kobayashi, General Manager Overseas Power Marubeni Power International Inc; Mr. Mo Majeed, Chairman, Marubeni Power International of South Jamaica (SJPC) and Ms. Sandra Welch-Farrell. The meeting took place at the Trinidad Hilton Hotel and Conference Centre.
The National Gas Company of Trinidad and Tobago Limited (NGC) and Shell Trinidad and Tobago Limited (Shell) have signed an amended Domestic Gas Sales Contract (DGSC) to incorporate a share of the natural gas volumes from the Shell-operated Manatee field once the project is sanctioned. The signing took place on September 22nd at Hilton Trinidad and Tobago Conference Centre, and was attended by The Honourable Stuart Young, Minister of Energy and Energy Industries, along with the principals of both signatory companies. The amended DGSC will entitle NGC to purchase gas produced from one of the country’s largest offshore fields, to supply to the downstream sector across the medium term.
The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, Stuart R. Young, M.P. advises that the Cabinet approved the award of three deep water blocks to a consortium of bp and Shell.
The Energy Chamber is extremely pleased to hear the news that Trinidad & Tobago and Venezuela have signed an agreement to work on the Dragon field in Venezuelan waters. The Energy Chamber congratulates the Government of Trinidad & Tobago for delivering this agreement, and in particular the Minister of Energy, the Honourable Stuart Young, who has worked tirelessly to secure the agreement in a very challenging environment.
The Ministry of Energy and Energy Industries in a social media post has shared that T&T has signed an agreement to work on the Dragon field in Venezuelan waters.
bp Trinidad and Tobago (bpTT) can today confirm it has successfully completed its Trinidad Offshore Pipeline Replacement (TOPR) project and safely integrated the new infrastructure into its operations.
HDF Energy (Hydrogène de France), leading developer of large-scale green hydrogen infrastructure and high-power fuel cell manufacturer, announces the appointment of Jean- Noel de Charentenay as new chairman of certified low-carbon hydrogen project NewGen.
The Ministry of Energy and Energy Industries has indicated that Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, The Honourable Stuart R. Young, MP, met with Woodside Energy executives on August 22, 2023 for an update and discussion on the Calypso deepwater project.
Shell has formally begun the process of seeking environmental clearance for the highly anticipated Manatee project, though the submission of an application for a certificate of environmental clearance to Trinidad & Tobago’s Environmental Management Authority (EMA).
The Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, Stuart R. Young, M.P., met with the board of directors at Touchstone Exploration Inc.
Ramps Logistics Limited has signed a letter of intent with Flying Ship Technologies, Corp to introduce unmanned, autonomous, eco-friendly, wing-in-ground-effect vessels, or “Flying Ships” to the Caribbean and South America. Ramps Logistics indicated that this innovative collaboration would revolutionise shipping in the region by decreasing vessel costs, significantly cutting shipping time, and reducing the company’s carbon footprint.
Trinidad and Tobago NGL Limited (TTNGL) has published its financial results for the period ending June 30, 2023, which reflects operational and market challenges impacting its underlying asset, Phoenix Park Gas Processors Limited (PPGPL).
The EU has reached its target of filling gas storage facilities to 90% of capacity roughly 2.5 months ahead of the November 1 deadline, according to the latest figures released today by Gas Infrastructure Europe. Aimed at optimising EU preparation for the coming winter, the gas storage regulation of June 2022 set a binding EU target of 90% filling storage facilities by November 1 each year, with interim targets for EU countries. Gas storage is key for security of supply in Europe as it can cover up to one-third of the EU’s gas demand in winter. The figures published today show that gas storage levels have reached 1,024 TWh or 90.12% of storage capacity (equivalent to just over 93 billion cubic metres (bcm) of natural gas).
Touchstone Exploration has provided an update on the Royston-1X well production testing, commissioning of the Cascadura natural gas and liquids facility, and operations at Coho. Touchstone has an 80% operating working interest in the Royston-1X sidetrack well and the Cascadura and Coho fields, all of which are located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20% working interest.
