NGC, bpTT secure gas deal

The announcement was made in a statement issued by NGC last Friday. BP proposed to invest US$5 billion in future development which will greatlly assist in the alleviation of the gas shortage situation in the country.

NGC chairman Gerry Brooks and NGC president Mark Loquan advised that the Angelin project will build upon recent game-changing initiatives in TT. These include the Trinidad Offshore Compression (TROC), Juniper and Dragon projects.

Together with these projects, the Angelin gas development project, will stabilise gas production against projected decline.

Brooks commended the NGC and bpTT teams for the constructive manner in which the talks were conducted.

NGC also noted that similar discussions are taking place with other upstream companies, such as Shell which is a partner on the Dragon project with Venezuelan state energy company, Petroleos de Venezuela SA (PDVSA).

Noting that discussions on Dragon are progressing actively, Brooks said meetings continued in TT earlier this week, with the formation of the commercial and technical teams. Brooks and Loquan indicated that in order to pre-empt future gas shortage situations in TT, discussions and negotiations around future projects must be conducted with the appropriate lead times.