NGC signs three-year gas sales agreement with TRINGEN

Trinidad and Tobago: Trinidad and Tobago’s – National Gas Company Limited – NGC has signed a three-year gas sales agreement with Trinidad Nitrogen Company Limited -TRINGEN.

TRINGEN is – 51% owned by National Enterprises Limited -NEL and 49% owned by Yara Caribbean -2002 Limited with two ammonia plants and gas turbine power generation. TRINGEN is NGC’s fourth-largest petrochemical customer, and it is one of the longest- operating companies on the point lisas industrial estate.

With the signing of this agreement, these two plants would continue to operate and keep Trinidad and Tobago guarded as a key exporter of -ammonia and this agreement is another optimistic signal of the sustainability of the local energy industry.

This agreement was signed on- May 11th 2021 and would ensure that TRINGEN’s two ammonia plants -TRINGEN I and TRINGEN II remain a remarkable part of the nation’s downstream landscape at – Pt. Lisas. The execution of this gas sales contract re-emphasises both NGC’s and TRINGEN’s commitment to the durability of the petrochemical industry.

TRINGEN- Trinidad Nitrogen Company Limited has been one of the most successful joint ventures for T&T, paying dividends to its shareholders over the past 25 years and contributing significantly to the local economy of the nation.

Mark Loquan -NGC president and Minister of Energy- Stuart Young thanked the negotiation teams for their work in recognising a resolution of the deal.

NGC’s president- Loquan stated, “While a three-year agreement would be short-term, the NGC would take a deal for as long a period as it can get it. We acknowledge that for the downstream industries, they have investments in – turnaround, and a turnaround cycle is four- years on average. For someone to make investments in turnaround, depending on what year that investment falls in, you need to extend it as best as you can, and that would be the aim.”

NGC- The national gas company limited is a state-owned natural gas organisation. NGC was established in 1975 and founded by the government of Trinidad and Tobago. The enterprise is operating in the area of- gas pipelines, gas production, industrial sites, port and natural gas liquids and liquefied natural gas and marine infrastructure.