00:00TV6 News spoke with National Gas Company of Trinidad and Tobago Ltd. Chairman Gerald Randine to get his assessment of
00:08what impact the developments in the Middle East can have on a state-owned midstream natural gas enterprise.
00:17The unfortunate events in the Middle East have been very closely monitored by the Ministry of Energy and more in
00:24particular the National Gas Company of Trinidad and Tobago.
00:28These are very important developments in relation to the energy sector and up to this morning we were having meetings
00:37at the National Gas Company in relation to our investment at Atlantic LNG.
00:42That investment becomes critical at this time because we expect that the demand for LNG around the world is going
00:51to increase.
00:52On Saturday the U.S. and Israel began a military campaign against oil and gas producing Iran which has seen
00:58Iran launching retaliatory strikes on not only Israel but gas producing states like Jordan, Kuwait, Oman, the Kingdom of Saudi
01:06Arabia, the United Arab Emirates and Qatar.
01:09On Monday Qatar Energy announced that due to military attacks on two of its operating facilities, it has ceased production
01:17of liquefied natural gas and associated products.
01:20Qatar Energy further said it values its relationships with all of its stakeholders and will continue to communicate the latest
01:27available information.
01:29Chairman Ramdean spoke about the present capacity at Atlantic LNG which is located in Point 14.
01:35Not many people know that at this present time only two trains out of the three trains at Atlantic LNG
01:43are operational.
01:45Trains two and four are operational and train three is down.
01:50We had a meeting early this morning and the National Gas Company is holding discussions very urgently with both Shell
01:58and BP and Atlantic to get that train back up and running as soon as possible.
02:03We cannot have a train at Atlantic LNG at such a critical time being down and non-operational.
02:11In light of Chairman Ramdean's response, TV6 News sought an update on Atlantic LNG's train one which has not been
02:18operational for some time.
02:20That train was in the process under the last administration of being decommissioned.
02:25But that is another aspect of Atlantic LNG that we are re-looking because at this critical moment, Jules, where
02:34there is the reality of cross-border gas coming to this country, of gas from Venezuela coming into this country,
02:41with renewed interest in the deep water and in the upstream,
02:46we must take every step on behalf of the people of this country to make available every opportunity to monetize
02:54gas.
02:54The Henry Hub natural gas price rose by just under one U.S. dollar or just over 4% to
03:01U.S. $2.9 per MMBTU as commodity markets resumed trading on Monday.
03:06In October of last year, the government of Trinidad and Tobago's natural gas price assumption for its 2026 budget was
03:14U.S. $4.25 per MMBTU compared with U.S. $3.59 per MMBTU in 2025.
03:23Jewel Brown, TV6 News.
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