Government is holding discussions with the foreign shareholders of Atlantic LNG about the possibility of increasing tax revenues when LNG cargoes are diverted to countries where prices are higher than the US and Spain. In a response to the concerns raised by Energy Minister, Carolyn Seepersad-Bachan about the amount of revenue coming to government from Atlantic LNG, bpTT said yesterday: "The contracts held between the Atlantic LNG shareholders and the Government of Trinidad and Tobago prescribe the share of profits between the shareholders and the government.
"BP has been in discussions with the Ministry of Energy for some time on the issue of diverted cargos with the objective of ensuring that T&T has the flexibility to take advantage of diverted cargos and benefit from higher prices that may be available in Europe and Asia. BP went further to say that it always optimises cargos lifted from Atlantic LNG whether on its own behalf or on behalf of NGC. "We always endeavour to get the best netback prices for all cargos as this is in the interest of the country and company," according to the BP statement.