Five Plants Stay – NGC / Nutrien sign Gas Deal
2nd November, 2018
The signing of a Gas Sales Agreement between The National Gas Company of Trinidad and Tobago Limited (NGC) and Nutrien is positive news for the energy industry in Trinidad and Tobago. The deal signed on November 02nd, 2018 ensures that Nutrien’s four ammonia plants and one urea plant remain a significant part of the country’s energy infrastructure for the foreseeable future. The decision by Nutrien to commit its future to Trinidad and Tobago represents a continued vote of confidence by the international investor community and provides a much-needed boost to our economy.
NGC Chairman, Professor Gerry C. Brooks made the point that “The agreement also reinforces our country’s strategic role in the rapidly evolving global ammonia industry.” Mr. Mark Loquan, President of NGC, further added that the negotiations were long and arduous but were collaborative, professional and non-contentious, and were grounded in mutual respect with a view to Nutrien’s long-term presence in Trinidad. Mr. Loquan also pointed out that the architecture and landscape in the industry has changed with higher prices, lower volumes and shorter contracts. NGC, he stated, is navigating these changes and remains committed to improve supply at competitive prices given the challenges in the industry.