NGC Petrochemicals Limited (NPL), a subsidiary of The National Gas Company of Trinidad and Tobago Limited (NGC), has completed negotiations with Gulf Coast Methanol 1, LLC and its parent IGP Methanol LLC of the USA, for a Purchase and Sales Agreement that will allow NGC to acquire blue methanol from IGP’s Gulf Coast Methanol project.
This milestone achievement marks the culmination of several months of collaboration, following the announcement of a term sheet signed by the parties in December 2021. The new agreement means NGC will soon be able to purchase blue methanol—a low-carbon petrochemical commodity—for trading through its expanding energy marketing and trading portfolio.
The inclusion of blue methanol in its portfolio bolsters NGC’s reputation as an emerging player in the global clean energy space, and regional leader in championing the Green Agenda and sustainability. It represents the latest in a suite of initiatives being pursued by NGC and the wider NGC Group to pursue a carbon-neutral future for Trinidad and Tobago.
