The National Gas Company of Trinidad and Tobago Limited (NGC) and NewGen Energy Limited (NewGen) have deepened their partnership to cooperate on the enabling of a sustainable hydrogen economy for the energy sector of Trinidad and Tobago. On August 4th 2022, both companies signed a non-binding Heads of Agreement (HOA), which outlines the framework for the establishment of Binding Definitive Agreements between the relevant parties, once acceptable terms can be reached.
The HOA follows the signing of a Letter of Intent in May 2022, which expressed NGC’s intention to work collaboratively with NewGen to further evaluate the development of NewGen’s hydrogen production facility. This evaluation has rapidly progressed, and the signing of this HOA includes the commitment from NGC and NewGen to jointly establish working teams that will now engage key related public and private stakeholders in this ground-breaking project development of a cleaner energy supply for Trinidad and Tobago.
The HOA is a further milestone that advances the country’s transition to a lower carbon future through low-carbon and green hydrogen production. It is the next key step in the progression of the development of the $250M USD NewGen hydrogen production facility in Point Lisas.
