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

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

CNOOC Finds Oil and Gas in South China Sea

EnQuest Acquires Harbour Energy’s Vietnamese Assets

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

Fugro Lands Deepwater Gas Field Job in Southeast Asia

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

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

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