(The Energy Chamber of Trinidad & Tobago, 6.Dec.2023) — The Energy Chamber of Trinidad & Tobago welcomes the news of the final signing of the Atlantic restructuring agreement. The Energy Chamber would like to thank and compliment the negotiating teams from bpTT, Shell, the National Gas Company of Trinidad and Tobago Limited and the government of Trinidad and Tobago, for completing this complex process and for delivering the new commercial and legal structure for Atlantic. This is a major development for the Trinidad & Tobago gas sector and therefore the overall economy of the country.
The restructuring of Atlantic will create greater certainty for the facility’s shareholders and allow investment into the plant, including investments to reduce the carbon footprint of the LNG produced through Atlantic. While the specific details of the new commercial and legal structure are not yet known, we are cautiously optimistic that the new structure will positively influence much-needed future investment into upstream gas production. Increased investment into upstream production will provide additional work for the service companies and contractors, increased security of supply to the downstream plants and increased government revenue.
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