NGC: More gas for TT

THE National Gas Company and Shell TT Ltd on Monday signed a domestic gas sales agreement which will bolster the supply of natural gas to the domestic market. In a statement, NGC said the signing of the contract followed on from the signing of a term sheet in June with Shell. That signing allowed Shell to make a final investment decision regarding the Barracuda Project off the east coast of Trinidad.

NGC said the domestic gas sales contract (DGSC) would ensure "continuity of gas supply by Shell TT to NGC, bolstering the supply outlook for domestic consumers."

Company president Mark Loquan said the DGSC allowed the NGC to achieve "one of its main strategic goals by securing obligations to the downstream, power and light industrial customers with improved stability and availability."

Loquan also said NGC has been working tirelessly with upstream producers in that regard and the DSGC concluded one of the last rounds of its major upstream negotiations.

Shell TT vice president and country chair Eugene Okpere said the contract underscored the company's commitment to supply 20 to 30 per cent of its production to the domestic market. Okpere said the DSGC also reaffirmed Shell's commitment to strategically invest in TT's continued growth and development.

NGC and Shell TT indicated the new phase of its long-standing partnership would be beneficial to both companies and the people of TT. Both companies promised to work with the Energy Ministry and other stakeholders to create value for the country.