JavaScript is disabled in your web browser or browser is too old to support JavaScript. Today almost all web pages contain JavaScript, a scripting programming language that runs on visitor's web browser. It makes web pages functional for specific purposes and if disabled for some reason, the content or the functionality of the web page can be limited or unavailable.

Monday, May 19, 2025

NGC and Trinity sign MOU to collaborate on new energy projects

by

NEWS DESK
1613 days ago
20201217
Left to Right – Curtis Mohammed, NGC CNG President; Jeremy Bridglalsingh, Managing Director, Trinity Exploration and Production (Trinidad and Tobago) Ltd; Mark Loquan, President NGC; Dr Vernon Paltoo, President, National Energy. (Image courtesy NGC)

Left to Right – Curtis Mohammed, NGC CNG President; Jeremy Bridglalsingh, Managing Director, Trinity Exploration and Production (Trinidad and Tobago) Ltd; Mark Loquan, President NGC; Dr Vernon Paltoo, President, National Energy. (Image courtesy NGC)

Sataish Rampersad

NGC—the Na­tion­al Gas Com­pa­ny of Trinidad and To­ba­go Ltd.— has signed a mem­o­ran­dum of un­der­stat­ing (MOU) with Trin­i­ty Ex­plo­ration & Pro­duc­tion plc, to ex­plore and de­vel­op new projects to en­able en­er­gy tran­si­tion in Trinidad and, po­ten­tial­ly, in the wider Caribbean and Latin Amer­i­ca.

An of­fi­cial state­ment re­leased by the NGC con­firms the MOU sign­ing and says it paves a growth and ex­pan­sion­ary path­way for each en­ti­ty.

“This col­lab­o­ra­tive ini­tia­tive is part of Trin­i­ty’s and NGC’s wider growth strate­gies,” the re­lease states, “aim­ing to de­rive fur­ther val­ue from ex­ist­ing li­cences, to es­tab­lish a broad­er port­fo­lio of en­er­gy as­sets via ac­qui­si­tion and part­ner­ships, and to chal­lenge and fur­ther re­duce car­bon out­put.”

Mark Lo­quan, NGC Pres­i­dent, de­scribes the sign­ing as sig­nif­i­cant, as it pro­vides the NGC Group, and ul­ti­mate­ly the peo­ple of Trinidad and To­ba­go, with an av­enue to ac­cel­er­ate en­er­gy ef­fi­cien­cy and re­new­able en­er­gy with­in the coun­try.

“The scope of the MOU goes hand in hand with the Group’s Cor­po­rate Sus­tain­abil­i­ty Strat­e­gy, which speaks to the role of the Group in the at­tain­ment of the coun­try’s Paris Agree­ment oblig­a­tions. The NGC Group has made great strides in di­ver­si­fy­ing its busi­ness mod­el to en­sure the sus­tain­abil­i­ty of all our en­ti­ties. The scope of this part­ner­ship with Trin­i­ty is there­fore a strate­gic fit for the Group. The NGC Group is there­fore set to ad­vance the lo­cal chap­ter of the en­er­gy agen­da,” the NGC Pres­i­dent says.

Trin­i­ty’s Ex­ec­u­tive Chair­man, Bruce Ding­wall CBE, com­ment­ing on the MOU, stat­ed:

“Our tra­di­tion­al core on­shore and off­shore pro­duc­tion as­sets pro­vide a strong foun­da­tion for growth, but this part­ner­ship with the NGC po­ten­tial­ly in­tro­duces new ways of op­er­at­ing, pow­er­ing and mon­etis­ing those as­sets which are tru­ly ex­cit­ing. This part­ner­ship is ex­pect­ed to be a great ‘en­abler’ to Trin­i­ty be­com­ing a new type of en­er­gy busi­ness which is at the fore­front of the En­er­gy Tran­si­tion agen­da.”

He added: “Au­toma­tion and tran­si­tion tech­nolo­gies are bring­ing a new di­men­sion to our ex­ist­ing op­er­a­tions, and we will con­tin­ue to ad­vance op­por­tu­ni­ties to broad­en our port­fo­lio and cre­ate fur­ther val­ue as we fur­ther scale the busi­ness. We be­lieve that this MOU is an im­por­tant mile­stone for the Com­pa­ny and look for­ward to work­ing along­side the NGC on these ex­cit­ing new ini­tia­tives.”

The MOU cov­ers a range of de­vel­op­ment op­por­tu­ni­ties in­clud­ing:

● A Mi­cro Liq­ue­fied Nat­ur­al Gas (“mi­cro LNG”) busi­ness which en­com­pass­es po­ten­tial syn­er­gies along the Gas Val­ue Chain in­clud­ing po­ten­tial op­por­tu­ni­ties for Com­pressed Nat­ur­al Gas (“CNG”) in Trinidad and To­ba­go, the broad­er Caribbean and Latin Amer­i­ca re­gion;

● Re­new­able en­er­gy op­por­tu­ni­ties, in­clu­sive of a wind pow­er gen­er­a­tion project, to pro­vide re­new­able elec­tric pow­er, in­clud­ing some of Trin­i­ty’s op­er­a­tions;

● Pur­suit of strand­ed gas as­sets and as­so­ci­at­ed op­por­tu­ni­ties in ex­ist­ing Trin­i­ty as­sets; and

● Pur­suit of oth­er mu­tu­al­ly ben­e­fi­cial busi­ness op­por­tu­ni­ties.

 

About NGC

NGC has been in op­er­a­tion for over 45 years and is strate­gi­cal­ly po­si­tioned in the up­stream and mid­stream of the nat­ur­al gas val­ue-chain in Trinidad and To­ba­go.

Its core busi­ness ac­tiv­i­ties in­volve the ag­gre­ga­tion, pur­chase, com­pres­sion, trans­mis­sion, sale and dis­tri­b­u­tion of nat­ur­al gas to in­dus­tri­al and com­mer­cial users. It al­so has non-op­er­at­ed in­ter­ests in up­stream pro­duc­ing as­sets, both oil and gas.

As the world con­tin­ues its en­er­gy tran­si­tion jour­ney, these val­ue-added ini­tia­tives will con­tribute to­wards max­imis­ing the ben­e­fits from Trinidad and To­ba­go’s nat­ur­al re­sources.  

Fur­ther­more, this sup­ports Trinidad and To­ba­go’s am­bi­tions to­wards low­er­ing GHG emis­sions in line with best prac­tice and the Paris Ac­cord. 

 

About Trin­i­ty

Trin­i­ty is an in­de­pen­dent E&P (ex­plo­ration and pro­duc­tion) com­pa­ny fo­cused on Trinidad and To­ba­go. 

ESG Com­mit­ments

En­vi­ron­men­tal So­cial and Gov­er­nance (“ESG”) dri­vers are at the core of the mod­ern in­dus­tri­al so­ci­ety and Trin­i­ty is fo­cused on es­tab­lish­ing it­self at the fore­front of the En­er­gy Tran­si­tion agen­da.

Trin­i­ty has been work­ing for some time to re­duce the en­vi­ron­men­tal im­pact of its op­er­a­tions, hav­ing es­tab­lished its base­line for emis­sions in 2017. The Com­pa­ny has been em­bark­ing on an abate­ment plan dur­ing 2020 to en­sure that it be­comes a more ef­fi­cient and clean­er busi­ness, and is on course to roll out fur­ther op­er­a­tional au­toma­tion ini­tia­tives in 2021. Key on­shore and off­shore wells are be­ing au­to­mat­ed (dri­ving ef­fi­cien­cy and re­duc­ing en­er­gy in­ten­si­ty) and the ac­cel­er­a­tion of ap­plied an­a­lyt­ics, tran­si­tion tech­nolo­gies and au­toma­tion across the wider port­fo­lio will fur­ther work to­wards our ESG ob­jec­tives.

Mi­cro LNG

De­ploy­ing mi­cro LNG so­lu­tions sig­nif­i­cant­ly re­duces trans­porta­tion re­quire­ments for nat­ur­al gas with vol­ume re­quire­ments re­duced by a mul­ti­ple of 600 times.

LNG is a clean cheap tran­si­tion fu­el ide­al for small, medi­um and large scale users. It al­so has im­me­di­ate and grow­ing use as a bunker­ing fu­el for sea go­ing ves­sels. Trin­i­ty has been re­view­ing the op­por­tu­ni­ty to be part of this sup­ply chain for some time and be­lieves it would be a strong, com­ple­men­tary, cash gen­er­a­tive ad­di­tion to our ex­ist­ing op­er­a­tions.

Re­new­able En­er­gy

Pow­er­ing con­ven­tion­al oil pro­duc­tion by us­ing al­ter­na­tive en­er­gy sources such as wind pow­er has the po­ten­tial to not on­ly re­duce the car­bon foot­print of each bar­rel pro­duced but al­so to re­duce the op­er­at­ing costs of ex­tract­ing those bar­rels. Trin­i­ty has eval­u­at­ed and de­ployed sev­er­al means to re­duce its op­er­at­ing costs since 2016, de­liv­er­ing an op­er­at­ing break-even con­sis­tent­ly be­low US$30/bbl, and it con­tin­ues to dri­ve this ini­tia­tive for­ward, in­clud­ing the pow­er­ing of its own and ul­ti­mate­ly oth­er third-par­ty plat­forms and wells via al­ter­na­tive en­er­gy sources.

Business EnergyNGC


Related articles

Sponsored

Weather

PORT OF SPAIN WEATHER

Sponsored