The claim that NGC has confirmed the status of any matters that may or may not be before the Court of Arbitration is deceptive and therefore misleading. NGC’s practice is to never make public statements on its customers and takes seriously all confidentiality clauses.
NGC, as the supplier of natural gas to the downstream sector, has been assiduously negotiating contract terms with both upstream suppliers and downstream consumers that would maximise the returns for all parties under present circumstances.
The protraction of these negotiations is indicative of the considerable effort being made to arrive at mutually agreeable terms for all contract stakeholders, during a time of extraordinary challenge in global markets. NGC has already signed agreements with several downstream consumers and continues to support their operation.
NGC and Methanex remain committed to working collaboratively to find solutions for the long term. Methanex continues to operate its Atlas plant in Point Lisas and remains committed to doing business in Trinidad & Tobago in the long term. Trinidad is well located to supply global methanol markets and those operations are an important component of Methanex’s global production network.