Shell agrees to pay $2.5 bn by 2019

T&T could earn as much as $10 bil­lion over the next nine years fol­low­ing the sign­ing of a deal be­tween Gov­ern­ment and Roy­al Dutch Shell.

The an­nounce­ment was made by En­er­gy Min­is­ter Franklin Khan who gave de­tails to the Par­lia­ment on Mon­day fol­low­ing more a year of ne­go­ti­a­tions. He re­vealed that Shell agreed to pay gov­ern­ment $2.5 bil­lion by the end of 2019, the mon­ey to be paid in US to the sum of US $397 mil­lion.

PM: Favourable terms for T&T

Prime Min­is­ter Dr Kei­th Row­ley has walked away from his two-week long trip to the US, Nether­lands and the UK with favourable terms for the coun­try’s en­er­gy sec­tor.

This is ac­cord­ing to a re­lease from his of­fice.

He met with Shell in The Hague, Nether­lands, BP in Lon­don and EOG Re­sources and BHP in Hous­ton, Unit­ed States.

EOG tells PM that T&T remains important part of its portfolio

Prime Minister Dr Keith Rowley on Tuesday met with Chairman and CEO of EOG Resources William Thomas at EOG Resources Heritage Plaza in Houston, Texas.

A statement by the Office of the Prime Minister said that EOG updated Dr Rowley and his delegation on their exploration and production initiatives since the prime minister’s last meeting with EOG in Houston in 2017.

The energy company is executing an aggressive drilling programme which will continue with the drilling of a number of wells over the next year and beyond.

New agreement with Shell to enhance LNG revenues

The government has signed a new energy agreement between with Shell at the energy company’s headquarters in The Hague, Netherlands.

The new agreement is being labeled "a significant milestone for the people of Trinidad and Tobago" as it features an enhanced revenue package for the sale of LNG.

"The energy deal is the result of months of positive and relationship-building discussions between Shell and the Government," a statement by the Office of the Prime Minister said.