Trinidad and Tobago: The National Gas Company of Trinidad and Tobago Limited (NGC) took initiative by signing a new Gas Sales Contract (GSC) with Trinidad Nitrogen Company Limited (TRINGEN) on March 16, which will support ammonia production and sustaining activity within the country’s petrochemical sector.
In a media release on Monday, the NGC confirmed that the chairman of TRINGEN Emerson Chedee and Vice President of Operations Treveno Mowassie, were present during the signing ceremony along with the NGC’s Chairman Gerald I. Ramdeen and Acting President Edmund Subryan.
During the release, the spokesperson of NGC talked about their successful execution of another Gas Sales Contract with TRINGEN, which is one of the longest-operating ammonia producers located at the Point Lisas Industrial Estate.
This contract secured the continued supply of natural gas and reinforced the commercial relationship between the two biggest companies which benefits most of the areas of Trinidad and Tobago, while marking it as one of the biggest global ammonia markets.
This deal also aims to sustain economic activity at Point Lisas as TRINGEN operates two ammonia production plants including TRINGEN I and TRINGEN II, which will strengthen the energy sector and will also protect local jobs. Along with this it also runs a gas tribune power generation facility which is 51 percent owned by the National Enterprises Limited and 49 per cent by Yara Caribbean (2002) Ltd.
The spokesperson also emphasised that this deal will maintain the flow of foreign exchange earnings into the country which will be beneficial for our nation.
The Acting president of NGC Edmund Subryan, who led the negotiation process also expressed his joy about the deal as he stated that “this agreement reflects the strong and productive partnership between the companies involved.” he also highlighted “the value of collaboration within the energy sector,” by signing a new Gas Sales Contract.
Additionally, Subryan further stated that “this contract will strengthen the natural gas value chain while boosting the country’s reputation as a reliable ammonia producer among all the other countries.”
Gerald Ramdeen, the chairman of The National Gas Company also commented on this as he appreciated the legal and commercial teams involved in a meeting while signing and finalising the agreement, noting that they helped them by demonstrating what a correct partnership looks like.
At the end of the statement, NGC talked about securing a continued supply of natural gas for ammonia production which will help the government to maintain economic activity at Point Lisas and support the long-term viability of Trinidad and Tobago’s petrochemical industry.
