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The National Gas Company of Trinidad and Tobago Limited (NGC) has completed negotiations with Proman for the execution of a Gas Sales Contract for Methanol Holdings (Trinidad) Limited (MHTL). The GSC was signed at NGC’s Head Office in Point Lisas on October 20th, 2023 by NGC President Mark Loquan and Jerome Dookie, Managing Director of MHTL, marking the culmination of many months of negotiation.
Chevron Corporation has announced that it has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion.
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.
Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, the Honourable Stuart R. Young, M.P. hereby confirms that on October 17, 2023 the Office of Foreign Assets Control (OFAC) of the Department of Treasury of the United States Government issued a license amendment to the Government of the Republic of Trinidad and Tobago (GORTT) based upon requests made by GORTT dated March 8, 2023 and September 15, 2023 with respect to, inter alia, the development of the Dragon gas field.
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.
The National Gas Company of Trinidad and Tobago Limited (NGC) and Methanex Trinidad Limited (Methanex) have signed a new Gas Sales Contract (GSC) for the supply of gas to the Titan methanol plant on the Point Lisas Industrial Estate (PLIE). The agreement with Methanex - the world’s largest producer and supplier of methanol - was signed on October 12th 2023 at the Hilton Trinidad and Conference Centre.
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 Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, The Honourable Stuart R. Young, MP, met with the European Union (EU) Ambassador, His Excellency Peter Cavendish; David Mogollon, Head of Cooperation, EU Delegation to Barbados and Sanjin Soldatic, Head of Political Section, EU Delegation to Trinidad and Tobago, today, Tuesday 10th October, 2023 at the Parliament of the Republic of Trinidad and Tobago.
The Honourable Stuart R. Young MP Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister met with Mrs. Kellyanne Lochan, President and Country Chair at Woodside Energy. The meeting took place at the Parliament of the Republic of Trinidad and Tobago on 10th October 2023.
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) and Point Lisas Nitrogen Limited (PLNL) have successfully concluded negotiations for the execution of a Gas Sales Contract (GSC) to govern the sale of natural gas to PLNL and represents a critical step forward for both companies after a fruitful period of negotiations.
Heritage - Request for Contractor/Supplier Pre-Qualification
Steam Generators - Enhanced Oil Recovery Services - Oil and Gas Pipeline Services - Sidetracking and Whipstock Services
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.
