(NGC, 1.Apr.2021 — NGC advises that effective 1 April 2021, one of the gas sales contracts between The National Gas Company of Trinidad and Tobago Limited (NGC) and Methanol Holdings (Trinidad) Limited has expired. Regrettably, and despite NGC’s best efforts, no agreement was reached with MHTL on the terms for the continued supply of gas. NGC will continue to exert all reasonable efforts to try to secure a mutually acceptable agreement with MHTL. NGC will continue to honour its contractual obligations for the supply of gas to MHTL under its other gas sales contract.
NGC has been and will continue to work with stakeholders across the gas value chain to protect business interests in the current environment and gives assurances of its unwavering commitment to discharge its duty to customers and country. It should be noted that all contract discussions are privileged and subject to the strictest confidentiality. NGC therefore cannot make any further comments and it will continue to work assiduously and professionally to secure a mutually acceptable agreement.
The Government and NGC are mandated to act in the best commercial and financial interests of the people of Trinidad and Tobago. Therefore, all actions by the Company shall be consistent with this mandate.
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