NGC, MHTL finalise key gas deal

The Na­tion­al Gas Com­pa­ny of Trinidad and To­ba­go Lim­it­ed (NGC) has fi­nalised a ma­jor Gas Sales Con­tract (GSC) with Methanol Hold­ings (Trinidad) Lim­it­ed (MHTL), the largest methanol pro­duc­er on the Point Lisas Es­tate. Signed on Tues­day at NGC’s Point Lisas head­quar­ters, the agree­ment marks the suc­cess­ful con­clu­sion of 100 per­cent of NGC’s gas con­tract re­newals with down­stream cus­tomers and Pro­man Group com­pa­nies.

The deal comes on the heels of re­cent­ly se­cured sup­ply agree­ments for Pro­man’s am­mo­nia plants, Caribbean Ni­tro­gen Com­pa­ny Lim­it­ed, and Ni­tro­gen (2000) Un­lim­it­ed. Un­der the new con­tract, NGC will sup­ply nat­ur­al gas to sup­port MHTL’s ex­ten­sive methanol op­er­a­tions, bol­ster­ing an in­dus­try that re­mains crit­i­cal to na­tion­al em­ploy­ment, for­eign ex­change earn­ings, and eco­nom­ic de­vel­op­ment.

En­er­gy of­fi­cials not­ed that the con­tract re­new­al sig­nals re­newed con­fi­dence from petro­chem­i­cal pro­duc­ers in NGC’s man­age­ment of the coun­try’s gas sup­ply.

NGC act­ing Pres­i­dent Ed­mund Sub­ryan em­pha­sized that the agree­ment fos­ters cru­cial sta­bil­i­ty across the lo­cal gas val­ue chain. “This agree­ment sup­ports a key down­stream in­dus­try that cre­ates sig­nif­i­cant val­ue for Trinidad and To­ba­go and con­tributes to the coun­try’s eco­nom­ic re­silience,” Sub­ryan stat­ed. “We are par­tic­u­lar­ly pleased that the com­ple­tion of these agree­ments with the Pro­man Group rep­re­sents the suc­cess­ful con­clu­sion of all down­stream con­tract re­newals with­in that port­fo­lio, pro­vid­ing greater cer­tain­ty for con­tin­ued op­er­a­tions and in­vest­ment.”

NGC chair­man Ger­ald I. Ramdeen added that the con­tracts en­sure con­ti­nu­ity with­in Trinidad and To­ba­go’s glob­al­ly rec­og­nized methanol and am­mo­nia in­dus­tries, keep­ing the na­tion com­pet­i­tive on the world stage. Ramdeen praised the fo­cus of the state en­ter­prise amid in­dus­try chal­lenges.

“De­spite all the noise, my Board, man­age­ment and staff have not been dis­tract­ed,” Ramdeen said. “To­geth­er, through ded­i­ca­tion, com­mit­ment, hard work and by God’s grace, we have de­liv­ered val­ue to our coun­try and se­cured the best in­ter­est of our peo­ple, our coun­try and NGC.”

The suc­cess­ful fi­nal­i­sa­tion of the Pro­man port­fo­lio con­tracts re­flects NGC’s broad­er strat­e­gy to re­in­force the do­mes­tic en­er­gy sec­tor and de­liv­er com­mer­cial­ly sus­tain­able out­comes for na­tion­al de­vel­op­ment.