Trinidad Signs Pact with BP, Shell

Laxman Pai
Monday, December 3, 2018

The government of Trinidad and Tobago (T&T) has entered into an agreement with energy giantsShell and BP over gas pricing and LNG activities.

According to local media reports, the agree­ment in­volves new pric­ing arrange­ments, the ex­ten­sion of the At­lantic LNG Train 1 by a fur­ther five years, and the abil­i­ty of the Na­tion­al Gas Com­pa­ny (NGC) to ex­port liqui­fied nat­ur­al gas (LNG) on be­half of T&T.

The government sources quoted min­is­ter in the Of­fice of the Prime Min­is­ter Stu­art Young said the agree­ment will lead to “significant” financial benefits to the twin island republic.

The gas pricing formula agreed to by Shell, BP and the National Gas Company, he said.

According to Young, the deal was achieved this week after months of what was described as intense but progressive discussions. The dis­cus­sions start­ed in April when Prime Min­is­ter Dr Kei­th Row­ley led a del­e­ga­tion to the Com­mon­wealth Heads of Gov­ern­ment Meet­ing (CHOGM) in Lon­don.

However, details of the pricing agreement were not revealed. Minister Young said the development is expected to bring several benefits including a level of job security in the industry.

Categories: Contracts Energy LNG Government Update

Related Stories

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Woodside Inks Long-Term LNG Supply Deal with China Resources

Current News

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com