NGC signs MOU with Globus Energy

THE NATIONAL Gas Company Ltd (NGC) signed a memorandum of understanding (MOU) on May 5 with a consortium comprising Globus Energy Group Trinidad Ltd (Globus Energy), Corban Energy Group (Corban Energy) and Chester LNG LLC (Chester LNG).

The MOU seeks to identify and screen technologies for micro- and small-scale LNG development projects in the Caribbean as well as to explore viable solutions to effectively manage energy security and low-carbon energy transition.

NGC president Mark Loquan said, “This partnership and its potential outcomes fit seamlessly within NGC’s green agenda and our sustainability thrust. Micro- and small-scale LNG solutions can enable our region to meet its energy needs today in a more sustainable way than currently obtains.

"As a future-minded energy company, NGC and the wider NGC Group are actively investing in such solutions, which also include renewable energy projects and energy efficiency initiatives. Through this MOU, we are pleased to take yet another step on the journey towards sustainable energy leadership.”

In a press release, the NGC said there is a pragmatic case for incorporating LNG, given the diverse geographical characteristics and economic circumstances of small islands in the Caribbean region. This MOU provides an opportunity to source LNG locally, expand the value chain and support regional climate-change action.

Angela Lee Loy, representative for the consortium, said, “The consortium looks forward to collaborating with the NGC based on the impressive history and track record of this outstanding organisation.

"Our objective is to provide modern, efficient, and affordable energy solutions across the region. We are confident that this relationship could be a catalyst for low-carbon energy, as we work together on energy security across the Caribbean Basin.”

The release said the partnership and MOU between NGC and the consortium of Globus Energy, Corban Energy and Chester LNG "represents an unwavering commitment to support and pursue a cleaner, more-sustainable energy future."