00:00With the government tailing NGC's recent record profit of TT$3.2 billion for 2025,
00:09former Energy Minister Stuart Young is demanding the true statement of the accounts.
00:14Anybody who understands finances will know that unaudited accounts have a lot of salt to take with it.
00:25Not a pinch, a bag of salt. To succumb to the Parliament to make an announcement about NGC on the
00:34basis of unaudited accounts
00:37is not only frightening, it is dangerous.
00:42And the questions that we ask are, where are the audited accounts?
00:47There have been impairments put on NGC's accounts.
00:50Did the management reverse these impairments to make it appear as though there is profitability?
00:57Young believes something is amiss, and he's issuing the following advisory to NGC staff.
01:04And I'm warning the staff at National Gas Company, you have fiduciary duties.
01:11You breach those along with the board of NGC and action will be taken against you, personally.
01:18So follow them to the end of the branch.
01:22And when it is cut off, expect what is to come.
01:26However, he acknowledges that global developments have led to an increase in gas prices,
01:32which he says this country can benefit from thanks to P&M negotiations for a revised gas price,
01:39along with the restructuring of Atlantic NG.
01:42So combine $95, $19, and $15, a third, a third, a third, compare that to $2.60.
01:52That is the reason, one of the main reasons for NGC's real profitability.
01:59Absolutely nothing to do, nothing to do with Kamala Persaud-Bissessa and her incompetent followers.
02:09Nevertheless, the former energy minister is sounding the alarm over what he believes is the impending collapse of the energy
02:17industry.
02:18You are destroying Point Lisas.
02:20Today, as I challenged last week, and they have said nothing, there are more plants shut down at Point Lisas.
02:27And these plants are not plants that were shut down because they're old and efficient, as happened in our tenure.
02:33These plants are being shut down because NGC is not providing them with gas.
02:39That is a disaster for our economy.
02:42How it trickles down?
02:43If these plants go like nutrients and they shut down, it is not going to only lead to loss of
02:48jobs, it is the collapse of an industry.
02:51Young for the notes.
02:53Our prospects with Venezuela remain grim.
02:56You are going to meet President Delcy Rodriguez?
02:59Who is going to meet?
03:00They use the term diplomatic mission because a diplomatic mission could mean anyone.
03:06It could mean a public servant from the Ministry of Foreign and Caricom Affairs.
03:10But today, both the Prime Minister Kamala Pasa Abisessa, as well as Munilal, who are relentlessly attacked the government of
03:20Venezuela and Her Excellency Delcy Rodriguez,
03:23you are persona non grata and can go nowhere and you have done us a disservice and you have destroyed
03:29the potential returns for Trinidad and Tobago.
03:32Renasa Cutting, TV6 News.
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