The National Gas Company of T&T Ltd (NGC) has shipped its first two cargoes of Liquefied Natural Gas (LNG) from Atlantic’s Trains II and III since the commercial restructure of Atlantic in December 2023.
The shipments left Atlantic’s facility in Point Fortin on November 26 and December 6 2024, bound for Italy and Egypt respectively.
In a news release yesterday, NGC said under the new commercial structure of Atlantic, NGC, through its shareholder company, NGC T&T LNG Ltd (NGC LNG), acquired a 5.7 per cent shareholding interest in Trains II and III with effect from October 1, 2024, which will further increase to 10 per cent in May 2027 when Train IV is included under the new commercial arrangement.
From October 1, based on its expanded equity interest, NGC is entitled to its pro-rata share of the Trains II and III processing capacity, which could result in approximately six additional LNG cargoes per contract year.
The company said these cargoes can bolster its growing energy marketing and trading portfolio and provide additional revenue.
NGC hosted a commemorative event on December 6 at Atlantic’s offices to mark the occasion.
Speaking at the event, NGC Chairman Dr Joseph Ishmael Khan said, "When T&T shipped its first LNG cargo back in 1999, it was a historic prelude to a new era in local energy. Today, we are commemorating what we see as a similarly historic moment for our company and country. The additional cargo entitlements from Trains II and III mean additional income for us, and additional value for the people of Trinidad and Tobago.”
He further noted that with natural gas being the cleanest fossil fuel, and projected to remain an integral part of the global energy mix going forward, the more LNG that NGC can market, the greater our contribution to the clean energy transition.
"We have been working steadfastly to grow as an international, low-carbon energy business, and this milestone achievement moves us closer to our goals,” Khan added.
