00:00National Gas Company of Trinidad and Tobago Limited Chairman Gerald Ramdean tells TV6 News
00:06that the impact of the ongoing conflict in the Middle East on the global supplies of natural gas products
00:12puts Trinidad and Tobago in a very strategic position as he made reference to its downstream gas sector
00:19which produces LNG, methanol and ammonia.
00:22And the one thing that the people of this country can be guaranteed
00:25is that the decision making by the Honourable Prime Minister to appoint the present board of the NGC
00:31the board that I lead will make the right decisions for this country at this very critical time.
00:36We have to make the right decisions at this critical time in relation to maximizing the gas that we can
00:42get on the upstream
00:43maximizing the amount of gas that we can make available to our downstream petrochemical sector at this time
00:48because we expect that the demand for those commodities, methanol and ammonia, will also increase.
00:53Plants that produce methanol and ammonia are located in the Point Lisas industrial estate.
00:59TV6 News spoke with Chairman Ramdean following a statement made by Opposition MP
01:04and former Energy Minister Stuart Young on Facebook on Monday that in December 2023
01:10it was the former PNM-led government which had completed the historic restructuring of Atlantic LNG in Point Fortin.
01:18MP Young said it was a feat that had never happened anywhere in the world
01:21prior to the former PNM administration doing it
01:24negotiating for approximately five years with Shell and BP.
01:29Even though the re-negotiation at Atlantic LNG brought a greater shareholding to the country
01:37it didn't bring a greater benefit because while the agreement was re-negotiated
01:44the previous government failed to ensure that NGC could put gas into Atlantic uninhibited.
01:53Chairman Ramdean made reference to the NGC's announcement in January of this year
01:59that it had acquired the Trinidad Region Onshore Compressor Fund, BPTT.
02:03And therefore, the country, Trinidad and Tobago, should know that even though the new allocation
02:12of gas negotiated by the previous administration that comes into effect next year
02:16allows the NGC to put 190 million standard cubic feet of gas into Atlantic,
02:21this present board has been putting that quantity of gas into Atlantic
02:26even before that agreement takes effect.
02:31Chairman Ramdean said the NGC is seeking to ensure its investment in Atlantic LNG
02:36brings the greatest benefit to Trinidad and Tobago.
02:40Julie Brown, TV6 News.
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