NGC and Rheingau in LNG collaboration
28th April 2019
As part of its thrust to increase value for the nationals of Trinidad and Tobago, The National Gas Company of Trinidad and Tobago Limited (NGC) continues to seek new business opportunities both locally and internationally in fulfilment of its strategic goals. NGC and Beijing Rheingau Investment Corporation (Rheingau) signed a Memorandum of Understanding to explore areas of cooperation. Rheingau is a subsidiary of CIC Capital Corporation, which is a subsidiary of China Investment Corporation. An affiliate of Rheingau and NGC, are both shareholders in Atlantic LNG Train 1.
The aforementioned partnership provided a springboard for further energy collaborations and is a significant milestone as NGC seeks to diversify its business and become an integrated player in the value chain. Both NGC and Rheingau entered into these discussions with a keen awareness of the opportunities for growth and expansion available to both organisations.
These potential areas of cooperation will include partnering on the sale of LNG from Atlantic’s Train 1 facility. Doing so with our partner in Train 1 will be key in the China market, where LNG demand and imports have been growing significantly and are projected for continued growth due to environmental policy.
- Photo 01: Mr Mark Loquan, President NGC; His Excellency, Stephen B. Seedansingh Jr. Ambassador Extraordinary and Plenipotentiary, Embassy of the Republic of Trinidad and Tobago to the People’s Republic of China; The Hon., Dennis Moses, Minister of Foreign Affairs, Trinidad and Tobago; The Hon. Stuart Young, Minister in the Office of the Prime Minister, Trinidad and Tobago; Mr Ju Weimin, Vice Chairman and President, China Investment Corporation (CIC); Mr Benjamin Bao, Managing Director, CIC Capital Corporation; Ms Lu Yuling, Beijing Rheingau Investment Corporation; Mr Xu Zhiyu, Director, Department of Public Relations & International Cooperation, CIC.
- Photo 02: Mr Mark Loquan, President NGC and Director; Ms Lu Yuling, Beijing Rheingau Investment Corporation.