The Energy Chamber of Trinidad & Tobago welcomes the news of the final signing of the Atlantic restructuring agreement. The Energy Chamber would like to thank and compliment the negotiating teams from bpTT, Shell, the National Gas Company of Trinidad and Tobago Limited and the Government of Trinidad and Tobago, for completing this complex process and for delivering the new commercial and legal structure for Atlantic. This is a major development for the Trinidad & Tobago gas sector and therefore the overall economy of the country.
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.
On December 1st, at the world’s capstone climate conference for 2023 - COP28 – currently underway in the United Arab Emirates, the global Oil and Gas Methane Partnership (OGMP) released its signature report on methane emissions, which outlines the commitments made by member companies to reduce their methane output. In this report, NGC - an OGMP member since 2021 - was highlighted as one of 84 companies achieving the “Gold Standard” status for their level of reporting and methane reduction ambitions. This is the second consecutive year that NGC has achieved this recognition.
Saipem has been awarded two offshore contracts, one in Guyana and the other in Brazil, worth approximately 1.9 billion USD.
bp has agreed to acquire the 50.03% interest it does not already own in Lightsource bp, one of the world’s leading developers and operator of utility-scale solar and battery storage assets. The parties agree that now is the right time for bp to take full ownership, enabling Lightsource bp’s continuing growth and high performance.
McDermott has received a limited notice to proceed for an engineering, procurement, construction and installation (EPCI) contract from Shell Trinidad and Tobago Limited for the Manatee gas field development project, located off the east coast of Trinidad and Tobago.
One of the topics discussed at the Local Content Forum this week was creating a uniform pre-qualification system across the energy sector. This idea got resounding support from the members who attended the Forum from across the supply chain. The discussion at the Forum concentrated on how this could best be achieved and the issues that will need to be overcome.
I stand before you with a great deal of enthusiasm at the Energy Chamber’s 11th Local Content Forum. I am enthusiastic because I know the collaborative efforts that we are about to embark on today will yield greats benefits for our ever changing energy industry. This gathering of our member companies exemplifies our collective commitment to fostering growth, sustainability, and competitiveness in our dynamic industry.
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.
Energy professionals from the Ministry of Energy and Energy Industries (MEEI) welcomed delegates from the Korea Energy Agency (KEA) and H2Korea on Friday 3rd November,2023, for a day of knowledge exchange focused on the renewable energy sector. The MEEI team led by Margaret Edwards Barran, Senior Energy Analyst (Ag.) along with Hannibal Anyika, Senior Sustainable Energy Development Analyst and Dr. Winston O’Young, Senior Policy and International Relations Officer, met with Dr. Sang-Hoon Lee, President, and Chief Executive Officer; Young Seop Lee, Chief Secretary and Na Young Kim, Project Manager of the KEA along with Dr. Han Sangme, Chief Operating Officer and InJoon Oh, Senior Researcher of H2Korea at the Energy Chamber of Trinidad and Tobago, Point Lisas. At this meeting the Republic of Korea delegation was updated on the local renewable energy sector with focus on the national commitments to reduce greenhouse gas emissions by 15% from our main emitting sectors by 2030.
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.
The National Gas Company of Trinidad and Tobago Limited (NGC) has completed negotiations with Proman for the execution of Gas Sales Contracts for Caribbean Nitrogen Company Limited (CNC) and Nitrogen (2000) Unlimited (N2000). These GSCs were signed at NGC’s Head Office in Point Lisas on October 20th, 2023 by NGC President Mark Loquan and Jerome Dookie, Managing Director of CNC and N2000.
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) 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.
