(Piero Stewart, Energy Analytics Institute, 11.Dec.2024) — The National Gas Company of Trinidad and Tobago Limited (NGC) shipped its first 2 cargoes of liquefied natural gas (LNG) from Atlantic LNG’s Trains 2 and 3. This, after the commercial restructure of Atlantic LNG was completed in Dec. 2023.
The shipments departed Atlantic LNG’s four-train facility in Point Fortin on 26 Nov. 2024 and 6 Dec. 2024, en route to Italy and Egypt respectively, NGC revealed 11 Dec. 2024 in an official statement.
Under the new Atlantic LNG commercial structure, NGC – through its shareholder company, NGC Trinidad and Tobago LNG Limited (NGC LNG) – acquired a 5.7% shareholding interest in Trains 2 and 3 with effect from 1 Oct. 2024. This interest will further rise to 10% in May 2027 when Train 4 is included under the new commercial arrangement, NGC said.
From 1 Oct. 2024, based on its expanded equity interest, NGC is entitled to its pro-rata share of the Trains 2 and 3 processing capacity, which could result in approximately 6 additional LNG cargoes per contract year. These cargoes can bolster the company’s growing energy marketing and trading portfolio and provide additional revenue, NGC said.
“When Trinidad and Tobago shipped its first LNG cargo back in 1999, it was a historic prelude to a new era in local energy. Today, we are commemorating what we see as a similarly historic moment for our company and country,” NGC Chairman Dr. Joseph Ishmael Khan said 6 Dec. 2024 at commemorative event at Atlantic LNG’s offices to mark the occasion.
“The additional cargo entitlements from Trains 2 and 3 mean additional income for us, and additional value for the people of Trinidad and Tobago,” Khan said. “With natural gas being the cleanest fossil fuel, and projected to remain an integral part of the global energy mix going forward, the more LNG that NGC can market, the greater our contribution to the clean energy transition. We have been working steadfastly to grow as an international, low-carbon energy business, and this milestone achievement moves us closer to our goals.”
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By Pietro Stewart reporting from Caracas. © Energy Analytics Institute (EAI). All Rights Reserved.
MAIN PHOTO CAPTION: A proud moment for NGC executives in front of the LNG cargo ship. From L to R: Ian Walcott, VP Operations, NGC; Edmund Subryan, President (Ag.), NGC; Verlier Quan-Vie, VP Commercial, NGC; Dr. Joseph Ishmael Khan, Chairman, NGC. Source: NGC
