The National Gas Company of Trinidad and Tobago Limited (NGC) has signed a non-binding Letter of Intent (LOI) with NewGen Energy Limited (NewGen), which expresses its intention to work collaboratively with NewGen to evaluate the development of NewGen’s hydrogen production facility. Subject to the commercial feasibility of this low-carbon project by all related stakeholders across the value chain, the parties will seek to enter into a non-binding Heads of Agreement as well as Definitive Agreements once acceptable terms can be reached between the parties.

Commenting on the LOI, NGC’s President Mark Loquan stated that, “This LOI represents the next step between NGC and NewGen on deepening our collaboration towards the advancement on the first industrial scale low carbon hydrogen project in Point Lisas and the Caribbean. Once commercially feasible, the NewGen Project could potentially become a pivotal step towards medium to longer term decarbonisation of the petrochemical sector for Trinidad and Tobago, which is something that the NGC is committed to and working towards.”

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First Row (seated – L to R) – Philip Julien, Managing Director, NewGen; Mark Loquan, President, NGC; Charlie Desmoulins, Chief Investment Officer, HDF Energy

Second Row (standing – L to R) – Vernon Paltoo, President, National Energy; Thibault Menage, VP Caribbean, HDF Energy; Dan Russell Ethan Martineau, Director, NGC; Verlier Quan-Vie, VP Commercial, NGC