Atlantic LNG’s restructuring was once again discussed on Friday as Prime Minister Dr Keith Rowley met with senior Shell executives at their offices in The Hague, Netherlands.
Minister of Energy Stuart Young was also involved in the meeting which was hosted by Shell’s executives Wael Sawan, Director of Integrated Gas and Renewable Energy Solutions, Cederic Cremers, Executive Vice President for LNG, Eugene Okpere, Senior Vice President and Country Chair for Shell Trinidad and Tobago and Anders Ekvall, Business Opportunity Manager.
The teams spoke of the imminent conclusion of the commercial restructuring of Atlantic, which was also discussed when the ministers met with BP executives in London on Thursday.
Shell is the largest shareholder in Atlantic, followed by BP.
The meeting also discussed future upstream developments to be undertaken by Shell, especially the Manatee project.
This week Shell sent out an advisory stating plans to begin work on the Manatee project next week.
During the meeting, Shell’s production over the last five years, since its re-entry into the upstream market in 2016, was also in focus. It was noted that projects such as Starfish, Barracuda and Colibri have resulted in an over 30 per cent increase in production during the period, with current production of approximately 850 million standard cubic feet of gas.
This stood as a seven-year high for Shell Trinidad and Tobago.
Prime Minister Rowley and Minister Young also received presentations on Shell’s global LNG, Carbon Capture Utilization and Storage (CCUS) and Hydrogen business.
The Shell team confirmed their continued co-operation in developing the country’s gas production and re-confirmed the company’s intention to sustain and grow competitive energy resources in Trinidad and Tobago.
