A new gas supply contract has been signed which secures future gas supply to the National Gas Company (NGC),.
This gas will be utilised for the downstream petrochemical sector and electricity production, a statement from the Energy Ministry said.
“The new gas supply arrangement augers well for the future of T&T’s energy sector and is the result of the work of the Ministry of Energy and Energy Industries, the NGC and bpTT,” the release explained.
It added the sanctioning of this future gas supply was part of the discussions which took place at the bp Headquarters, St James’ Square, London, UK, between Prime Minister Dr Keith Rowley and Bernard Looney, CEO of bp’s Global Operations on September 15, 2022.
During these talks Energy Minister Stuart Young was also in attendance, as well as bp executives including Anja-Isabel Dotzenrath, EVP gas and low carbon energy.
“The Government welcomes this crucial future supply gas which is a clear and tangible indicator of bp’s continued commitment to T&T,” the release added.
It said Young also congratulated both companies for negotiating in a collaborative manner.