|Gas conversion complex on stream |
Sasha Harrinanan Friday, April 21 2017
THE Japan Bank for International Cooperation (JBIC) is pleased with progress by the Caribbean Gas Chemical Limited (CGCL) and National Gas Company (NGC), on construction of a natural gas to petrochemicals complex in La Brea.
This according to the NGC which issued a statement on recent discussions over construction of the Methanol and Dimethyl Ether plant at Union Industrial Estate. The plant will cost $1 billion to construct and completion is expected in the fourth quarter of 2018.
On April 11, NGC Group Chairman Gerry Brooks accompanied by NGC President Mark Loquan and VP Finance, Narinejit Pariag, met with senior representatives of Mitsubishi Gas Holdings, Massy Holdings Limited and JBIC to discuss the complex. Also in attendance at the meeting in Port-of-Spain were CEO of Massy Holdings Limited Gervase Warner and Executive Chairman of Massy’s Energy and Industrial Gases Business Unit, Eugene Tiah.
The NGC release said discussions centred around several matters including the progress of the plant with Mitsubishi officials and Brooks assuring representatives of the JBIC, that CGCL had made excellent progress to date.
“Mitsubishi engineers also intend using the dry season to advance construction to ensure critical deadlines are met. CGCL’s role in Trinidad is integral given that it currently employs approximately 500 persons, many of whom are drawn from the community of La Brea.
Additional employees will be recruited over the next phase of the project,” NGC stated.
Brooks also updated JBIC on a number of initiatives to improve the short to medium term gas supply, including Trinidad Region Onshore Compression project (TROC) in the third quarter of 2017 and Juniper, scheduled for the third quarter of 2017.
Citing the recent successful negotiations for gas supply with bpTT and the Angelin Project, NGC said Brooks “underscored the future potential of other game-changing initiatives such as gas from the Dragon field, currently progressing apace with PDVSA and Shell; exploration of over 150 small and marginal fields; future possibilities of supply from the Rio Caribe and Soldado fields and unconventional sources that would provide resolution in the medium to long term.” According to Nakaba Aoyagi, Director, Project Executive Advisor, CGCL, the JBIC contingent, “had a positive impression on NGC’s future gas supply plan” and were reassured that NGC and GORTT were committed to resolving the supply/ demand balance by greater coordination and collaboration with the players in the value chain.
Caribbean Gas Chemical Limited (CGCL) is a joint venture consortium comprising NGC, Mitsubishi Gas Chemical Company Incorporated, Mitsubishi Corporation and local conglomerate Massy Holdings Limited. JBIC is the main lender for the billion-dollar CGCL project.