The National Gas Company of Trinidad and Tobago Limited (NGC) has signed a new Gas Sales Contract (GSC) with Methanol Holdings (Trinidad) Limited (MHTL), marking the completion of all downstream gas contract renewals with the country’s major petrochemical producers.
The agreement was executed today, May 19th, at NGC’s Head Office in Point Lisas and is being viewed as another significant step in advancing the company’s downstream gas contracting agenda.
MHTL is the largest methanol producer on the Point Lisas Industrial Estate and under the new arrangement, NGC will continue supplying natural gas to support MHTL’s methanol production operations at Point Lisas. The company said the contract reflects its ongoing commitment to ensuring the long-term sustainability and competitiveness of Trinidad and Tobago’s petrochemical sector.
In a statement, NGC said the successful conclusion of the agreement demonstrates renewed confidence among downstream petrochemical producers in the management of the sector and in NGC’s ability to deliver commercially sustainable outcomes, noting that the signing follows shortly after the execution of new Gas Sales Contracts for Proman’s ammonia plants, Caribbean Nitrogen Company Limited (CNC) and Nitrogen (2000) Unlimited (N2000).
The company added that the completion of all downstream contract renewals with Proman Group companies, including MHTL, CNC and N2000, underscores the confidence of key stakeholders in Trinidad and Tobago’s energy industry.
NGC also highlighted the importance of the petrochemical sector to the national economy, as the industry remains a major contributor to foreign exchange earnings, industrial activity, and employment.
The State energy company said the agreements were achieved through collaboration with downstream customers and are intended to support industrial continuity and long-term national value creation.
NGC’s Acting President, Mr. Edmund Subryan, stated, “NGC remains steadfast in fulfilling its commitments to customers and fostering stability across the gas value chain. This agreement supports a key downstream industry that creates significant value for Trinidad and Tobago and contributes to the country’s economic resilience. We are particularly pleased that the completion of these agreements with the Proman Group represents the successful conclusion of all downstream contract renewals within that portfolio, providing greater certainty for continued operations and investment in Trinidad and Tobago.
“We thank all parties involved, particularly the commercial and legal teams, whose collaboration and dedication made this outcome possible. We also acknowledge the continued support of our Chairman and Board of Directors.”
NGC Chairman Mr. Gerald I. Ramdeen added, “These agreements reflect NGC’s proactive engagement with downstream stakeholders and its commitment to supporting the continued success and competitiveness of Trinidad and Tobago’s energy sector. The successful conclusion of negotiations with all Proman Group companies demonstrates that constructive partnership and meaningful dialogue continue to deliver positive outcomes for the industry and the country. The execution of these contracts evidences the confidence that the downstream petrochemical sector has in the management of this country’s gas supply by NGC.
“Importantly, these contracts help secure continuity within Trinidad and Tobago’s globally recognised methanol and ammonia industries, supporting export activity, employment, foreign exchange earnings and long-term national development for the benefit of the people of Trinidad and Tobago. The agreements form part of NGC’s broader efforts to strengthen the domestic gas value chain, support industrial stability and maintain Trinidad and Tobago’s position as a competitive and reliable energy producer.
“Despite all the noise, my Board, management and staff have not been distracted. Together, through dedication, commitment, hard work and by God’s grace, we have delivered value to our country and secured the best interest s of our people, our country and NGC.”