PM off to London for energy talks

The content originally appeared on: Trinidad and Tobago Newsday

Prime Minister Dr Rowley – Photo by Roger Jacob

THE Prime Minister left Trinidad and Tobago on Friday for London where he will hold important discussions with multinational energy companies there.

A statement issued on Friday, said Dr Rowley’s engagements in London include “several high-level meetings with leading global energy companies.”

One of those meetings is expected to be the final sign-off on the restructuring of Atlantic LNG (ALNG).

At a news conference at the Diplomatic Centre, St Ann’s on November 20, Rowley gave this hint.

Addressing a news conference at the same venue on October 26, Rowley said TT now has a ten per cent share holding in trains two and three, through NGC.

The Government’s current shareholding arrangements for trains one and four remain in place.

“That is one of the most significant decisions, we have been able to accomplish.”

On January 25, 2022, Government and ALNG’s shareholders signed a heads of agreement (HoA) to guide the company’s restructuring.

A statement issued by the Energy Ministry then said the agreement was executed by Government, BP, Shell TT Ltd and the National Gas Company (NGC).

Energy Minister Stuart Young will accompany Rowley to London.

Speaking in the Senate on November 24, Young said TT is already benefiting from the restructuring of ALNG.

He disclosed, “In fact, the price structure that we have re-negotiated over the past few years has resulted in over $17 billion additional income to the people of TT that we would not have received (if there were no restructuring negotiations).”

He said the negotiations “are currently in the final stages of negotiation and at the appropriate time, the necessary information, when completed, will be provided in full transparency, that is permissible to the population.”

Finance Minister Colm Imbert will act as prime minister until Rowley returns.