00:06What I want to say is that within the next three to four days,
00:11the Honourable Prime Minister will make some significant announcements
00:14with respect to the energy sector.
00:17I have deliberately stayed clear and stayed in my lane
00:21and I know that what I can tell you is this.
00:24Within the past two months, the National Gas Company,
00:28the Ministry of Energy, our international upstream partners
00:32have done considerable work to be able to bring benefits
00:36to the people of this country.
00:38The results of those works are going to be announced
00:41by the Honourable Prime Minister.
00:42NGC Chairman Gerald Ramdean says the country can prepare
00:46for transformative changes in the energy sector,
00:50including what he hints will be new investments
00:53by major players in the energy industry.
00:56We have been in discussions with all of our downstreamers.
01:00There is significant work that has been done on the Point Lisa's estate
01:04by the National Gas Company with our international partners,
01:08including Nutrien, including all of the downstreamers,
01:11including companies that have not stepped foot in Trinidad and Tobago before
01:15that are now ready, willing and able to make investments.
01:20You would have seen something that has been announced yesterday.
01:23I don't think Minister Hussain has said so himself.
01:28The level of investment and enthusiasm that has been generated
01:32by the confidence in the economy of Trinidad and Tobago
01:35as a result of the leadership of the Honourable Prime Minister
01:40and her Cabinet, the decisions that have been made in particular
01:45in the energy sector,
01:46has generated a level of enthusiasm and investment
01:50that has not been seen before.
01:52Like I told you, you do not have to wait until Cabinet next week.
01:55Those announcements are going to be made very soon.
01:58His assurances come as key players like Methanex and Nutrien
02:03have shut down their T&T operations.
02:06However, he says, the government is simply seeking T&T's best interest.
02:11When they talk about plants closing, they are responsible for that
02:14because they never made any provision for gas to go into the downstream.
02:18And we have had to compete.
02:21The last time I spoke here, I told you all,
02:23the NGC now doesn't hold any monopoly on gas, you know.
02:27The NGC has to compete with upstreamers
02:29to buy gas at LNG prices
02:32to be able to supply our downstream.
02:34They crippled our downstream.
02:36For years, you have heard about dragon.
02:38For years, you have heard about mannequin, coquina.
02:41For years, you have heard about manatee and loran.
02:44What you are going to experience
02:46and what the people of this country and the region
02:48is going to experience
02:48is the actual monetization of molecules
02:52that will bring revenue to the people of this country.
02:58The NGC chairman was speaking at a handover ceremony
03:01for the title of the lands housing
03:03the Beechfield Gas Processing Facility in Guayaguayare.
03:08NGC and Shell have agreed
03:09that the Beechfield Gas Processing Facility
03:11will form a critical part of the onshore infrastructure
03:14supporting the manatee project.
03:17You would also be aware
03:19that Shell was recently granted a license
03:21by the government of Venezuela
03:23to develop Phase 1 of the Loran Gas Field,
03:27which has an approved volume
03:29of up to 1.7 trillion cubic feet
03:31of natural gas for that phase.
03:33It is envisaged by both Shell and NGC
03:36that gas from the Loran Field
03:38will likewise be processed
03:40through the Beechfield Gas Processing Facility.
03:43Renasa Kutain, TV6 News.
03:45Renasa Kutain, TV6 News.
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