NGC signs gas sales contracts with CNC, N2000

The National Gas Company of Trinidad and Tobago Ltd (NGC) has completed negotiations with Proman for the execution of a gas sales contract (GSC) for Caribbean Nitrogen Company Ltd (CNC) and Nitrogen (2000) Unlimited (N2000).

The agreements were signed at NGC’s head office in Point Lisas on October 20.

In a release, NGC said this agreement marks the culmination of many months of negotiations.

"These GSCs are welcome news for TT’s petrochemical sector, as they will support production at critical ammonia facilities on the Point Lisas Industrial Estate (PLIE)," it said.

CNC and N2000 own two anhydrous ammonia plants, and their operations help anchor TT’s world-scale ammonia industry.

NGC president Mark Loquan said, "These GSCs represent yet another successful outcome for our teams, our industry and our country. The fact that we have achieved this milestone signals the commitment of our companies to productive dialogue and engagement in pursuit of mutually agreeable contract terms, within the context of an evolving energy landscape."

Loquan added that NGC looks forward to further strengthening its relationship with the Proman group of companies and building a stronger, more sustainable petrochemical industry for the future.

Executive director of Proman Trinidad, Claus Cronberger said, "Ammonia production is an important part of TT’s downstream sector and I would like to thank the negotiating teams for their dedication and hard work throughout this process. We look forward to working collaboratively with the NGC and the government to secure long-term gas supply and a sustainable and globally competitive future for our national energy industry."