NGC to get gas from Manatee - Trinidad & Tobago Express Newspapers
NGC to get gas from Manatee | Local Business | trinidadexpress.com
THE National Gas Company of Trinidad and Tobago Ltd (NGC) and Shell Trinidad and Tobago Ltd yesterday signed an amended Domestic Gas Sales Contract (DGSC) to incorporate a share of the natural gas volumes from the Shell-operated Manatee field once the project is sanctioned.
The signing took place yesterday at Hilton Trinidad and Tobago Conference Centre, St Ann’s, and was attended by Energy Minister Stuart Young, along with the principals of both signatory companies.
“The amended DGSC will entitle NGC to purchase gas produced from one of the country’s largest offshore fields, to supply to the downstream sector across the medium term. In 2019, the Government of Trinidad and Tobago and the Government of the Bolivarian Republic of Venezuela executed an agreement to allow each country to independently develop its share of hydrocarbon resources from the Loran-Manatee Gas field, which straddles the maritime border between Trinidad and Tobago and Venezuela,” the release stated.
According to the release Shell and NGC are both working assiduously to monetise this reserve—Shell as the operator responsible for development and production, and NGC as the entity that will facilitate receipt and processing of the gas via its Beachfield facility.
“This domestic gas sales contract is further evidence of Shell’s commitment to partnering with the Government of Trinidad and Tobago to achieve its goal of energy security,” Shell T&T’s senior vice-president and outgoing country chair Eugene Okpere said.
“Today also marks a critical step toward enabling Shell’s next milestone of Final Investment Decision for the development of the Manatee project,” Okpere said.
Speaking at the event, NGC’s president Mark Loquan applauded the efforts made to realise this milestone agreement: “Manatee represents a significant resource for Trinidad and Tobago, and every step we take toward bringing this field online brightens our prospects for future domestic supply. Our teams have laboured to bring us to this point, and we acknowledge with deep gratitude the quantum of work delivered, as well as the impact it will have for our country. We do recognise that we have some distance to travel before we can access gas from Manatee, but we are committed to the outcome and optimistic that we can bring this project to fruition, in partnership with all stakeholders.”