The NGC Group (‘The Group’) recorded an audited after-tax profit of TT$191M for Q1 2021 as compared with TT$31M for Q1 of the prior year. Group revenues of TT$4.5B were TT$1.3B greater than revenues of TT$3.2B for the comparative period 2020. The rebound in commodity prices positively impacted revenues and profit. Operationally, parent NGC executed a new gas supply contract with Tringen whilst negotiations continued with Methanol Holdings (Trinidad) Limited towards execution of a long-term Gas Sales Contract. The Ruby field, of which NGC holds a 31.5% interest, will commence production in May 2021, six months ahead of schedule and which would certainly support stabilisation of supply over the next few years.
NGC: Financial Statements for the Three Months Ended 31 Mar 2021
