The title deed for the Beachfield Gas Processing Facility in South Trinidad was officially handed over to the National Gas Company of Trinidad and Tobago on Friday.
Described as “historic”, this acquisition means that this country stands to gain economically.
Chairman of the National Gas Company of Trinidad and Tobago, Gerald Ramdeen, expressed concern that the State-owned company operates key facilities, including the Beachfield Gas Facility, the La Brea Industrial Development Company and the Port of Galeota, without holding ownership of the properties, a situation he says must be addressed.
“We have made a commitment, the Board that I lead has made a commitment to work together with the honourable Minister to be able to vest all of those assets in the NGC.”
He highlighted the significant investment made by NGC recently in the Beachfield facility.
“The NGC has spent US$177 million to upgrade that facility. Can you imagine that a State company would spend 177 million US dollars without title? As I told the honourable Minister just now, we’ve been squatting for 20 years. That is the state of the assets of the NGC Group.”
Minister of Land and Legal Affairs, Saddam Hosein, described the handing over of the title deed as a historic moment.
“The Ministry of Land and Legal Affairs this morning is proud to say that we will now play a central part and pillar with respect to delivering billions of dollars to the people of Trinidad and Tobago. The process is, is that we must have the lands properly demarcated, which was done; I must take the note to Cabinet, Cabinet must give its approval. The note then goes to the Office of the Attorney General for the drafting of the leases.”
The Beachfield Gas Processing Facility at Guayaguayare is where the gas from the Manatee field will be processed.