YOUNG ON NUTRIENT

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00:00and fertilizer giant Nutrient Limited has confirmed it will not continue any further

00:04sales from its Trinidad operations. The disclosure came in Nutrient's third quarter earnings report

00:10which also marked the first official filing to reference the October 23rd controlled shutdown

00:16of its Trinidad nitrogen facility. The company said the shutdown followed a prolonged period

00:22of natural gas supply constraints which had significantly reduced the plant's contribution

00:28to free cash flow. During a media conference at the opposition's headquarters former Energy

00:33Minister Steele-Tiang described the development as very concerning news adding that this is part

00:39of the economic decline he has repeatedly warned the country about. If a company like Nutrient is

00:47taking that position it is a huge red flag which is going to affect us we're going to have less

00:52foreign exchange we're going to have less revenue all that Senator Dan Paul spoke about is going to

00:57affect us even more because it means the revenue you're hoping to get from the salaries already

01:02being paid late and not on time. It requires intervention, discussions, not threatening and

01:12extorting, not a fight about port fees. The port was built as subsidiary infrastructure to assist the

01:19plants. Worst possible outcome would be a complete shutdown of the plant warning that it could have

01:27serious ripple effects on the economy and employment in the energy sector. Nutrien has spent hundreds of

01:35millions of US dollars to make sure their plants are efficient and state-of-the-art and if those shut down

01:40permanently now we're in some serious trouble even to have a plant shut down for a week it is hundreds

01:48of millions of dollars lost and for them to take that decision in their boardroom away it is not

01:54auguring well for Trinidad and that has knock-on effects because the other competitors are now going

01:59to be looking and saying well boy if they have shut down what's going to happen to me next.