TTNGL’s improved profitability for the first quarter was derived from a higher share of profit from its investment in Phoenix Park Gas Processors Limited. This enhanced performance at PPGPL was driven by higher Mont Belvieu natural gas liquids prices, which were 49.8% above the 2020 period. This trend began in Quarter 4 2020 and continued into Quarter 1 2021, as markets recovered from the effects of the Covid-19 pandemic.