The Na­tion­al Gas Com­pa­ny of T&T Ltd is still a sym­bol of ex­cel­lence, its re­cent­ly ap­point­ed chair­man Dr Joseph Ish­mael Khan has stat­ed.

Khan made the state­ment in the com­pa­ny’s pub­lished an­nu­al re­port.

“Look­ing now to the fu­ture, we have stepped in­to 2022 as a re­silient, prof­itable, evolv­ing group of en­er­gy com­pa­nies, still a dri­ver of na­tion­al de­vel­op­ment, still a sym­bol of ex­cel­lence,” Khan stat­ed.

“What­ev­er comes our way, we will meet it with the same spir­it and dy­namism that have brought us this far. We are in­tent on re­main­ing rel­e­vant in the new age of en­er­gy, de­liv­er­ing ever more val­ue for our coun­try,” he stat­ed.

The NGC has pub­lished its 2021 An­nu­al Re­port, which presents the con­sol­i­dat­ed fi­nan­cial per­for­mance of The NGC Group for the pe­ri­od Jan­u­ary to De­cem­ber 2021.

“The NGC Group of Com­pa­nies record­ed a prof­it of $2.6B for the fi­nan­cial year end­ed De­cem­ber 31, 2021, rep­re­sent­ing a strong re­cov­ery over the loss of $2.1B record­ed in 2020. The group’s rev­enues of $23.6B were $12.2B greater than rev­enues of $11.4B for the year 2020,” a re­lease from the com­pa­ny stat­ed.

“The re­bound in com­mod­i­ty prices in 2021 pos­i­tive­ly im­pact­ed rev­enues, with prices for am­mo­nia, methanol, liq­ue­fied nat­ur­al gas (LNG) and nat­ur­al gas liq­uids (NGLs) be­ing 190 per cent, 92 per cent, 911 per cent and 112 per cent high­er re­spec­tive­ly. More­over, ex­cep­tion­al items record­ed in 2020 did not im­pact the or­gan­i­sa­tion in 2021,” it stat­ed,

Al­so dri­ving The Group’s per­for­mance in 2021 was its un­wa­ver­ing com­mit­ment to en­hanced val­ue cre­ation and the ad­vance­ment of its Green agen­da, the re­lease stat­ed.

Among the com­pa­ny’s high­light of achieve­ments are new sales and sup­ply con­tracts which will sup­port the longevi­ty of the gas-based down­stream and sec­tor and the ac­qui­si­tion of Her­itage Pe­tro­le­um’s in­ter­est in Block 3(a), in­creas­ing NGC’s share­hold­ing from 11.41 per cent to 31.54 per cent.

“The NGC Group con­tin­ues to prove its val­ue to T&T and its strength as a vet­er­an en­er­gy busi­ness through its con­sis­tent per­for­mance and re­silience in the face of ad­ver­si­ty.

“The group’s ro­bust re­cov­ery af­ter a his­tor­i­cal­ly dif­fi­cult year across the globe gives ev­i­dence of vi­sion­ary and strate­gic lead­er­ship, ded­i­cat­ed and tal­ent­ed em­ploy­ees, a bold strat­e­gy for growth and a col­lec­tive pas­sion for ser­vice to this coun­try,” Khan stat­ed.