00:00NGC Chairman Gerald Ramdean highlighted Trinidad and Tobago's state-owned energy companies in the context of the ongoing war in
00:07the Middle East
00:08and the resulting surge in global prices for natural gas and downstream products such as LNG, ammonia and methanol, which
00:16are all produced in Trinidad.
00:18Mr. Ramdean was speaking during a media conference at the Hyatt Regency in Port of Spain
00:22about the pending distribution of dividends to shareholders of NGC subsidiary Trinidad and Tobago NGL Limited.
00:30The underlying investment of TT NGL is Phoenix Park Gas Processes Limited or PPGPL.
00:37There are a number of investors that are here and that are coming here that want to invest in the
00:45entire NGC group, including PPGPL.
00:48What I can tell you is that whatever investment decisions that have to be made will not be made in
00:54the manner in which it was made before.
00:56It will be carefully thought out, the correct due diligence will be done, and after that is done,
01:02the prudence that is required and demanded of investing in monies that belong to the people of this country will
01:10be undertaken.
01:11In light of that statement by the NGC Chairman, TV6 News has sought clarification.
01:15From what you have said just now, is that the possibility of divestment or sale of shares of these state
01:22enterprises to major investors?
01:25I, sorry, yeah, there are a number, because of what has happened in the region and because of the geopolitics,
01:32there are a number of investors, local investors, regional investors, international investors,
01:38that are excited about what is happening in the energy sector, despite what is happening in the Middle East.
01:43Like, we have coined a phrase, you know, this is the Middle, instead of the Middle East, this is the
01:47Middle West.
01:48And things have happened here that have caused the entire world to focus on Trinidad and Venezuela and this region.
01:56An apparent reference to the potential supply of natural gas from Venezuela to Trinidad and Tobago.
02:01In January of this year, U.S. forces captured Venezuela's President Nicolas Maduro and his wife
02:07and flew them to the U.S. in what the U.S. government said was a law enforcement exercise.
02:12In February of this year, the U.S. granted a general license for the development of petroleum resources in Venezuela.
02:18Up to this morning, I was on the telephone with somebody from Europe, where about six different European countries
02:25are seeking the purchase of LNG from Trinidad.
02:30That is the extent, an example of the extent of the interest that is in the energy sector now.
02:36So that every proposal, every investor, any proposal for investment in the country will come to these companies,
02:45they will be elevated to the level of the cabinet and the government,
02:48and I'm sure that what will transpire is that any decision taken will be in the best interest of the
02:56people of this country.
02:57The state-owned NGC group includes PPGPL, TTNGL, National Energy, NGC Green Company Limited,
03:06and Labre Industrial Development Company Limited.
03:09Jewel Brown, TV6 News.
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