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.
T&T has achieved another significant milestone in its LNG business: the country’s 4000th LNG cargo was lifted successfully over r the weekend onto the Gemmata, an LNG tanker on its 15th voyage to the Atlantic facility in Point Fortin.
The vessel berthed at Atlantic’s Jetty #2 at 6 am on Saturday, and finished loading by 3.30 am yesterday.
To mark the historic occasion, an Atlantic delegation boarded the Gemmata and exchanged symbolic tokens with Captain Karol Koperek.
Prime Minister, Dr Keith Rowley has visited a Liquid Natural Gas receiving, storage and regasification terminal located in the Bay of Quintero, Chile.
The plant, GNL Quintero, is located some 160 kilometres from Santiago.
Since 2009 a total of 225 LNG ships have left Point Fortin for Quintero, delivering 75 per cent of total gas imports to central Chile.
Dr Rowley and the Trinidad and Tobago delegation received a guided tour of the facility today and received a presentation on the company’s business model and future projections.
Liquefied Natural Gas (LNG) production at Atlantic LNG totalled 2.2 million cubic metres in January, down 9% year on year, according to a bulletin released Tuesday by Trinidad and Tobago’s Energy Ministry.
Production at the Point Fortin, Trinidad, facility continues to be far short of capacity as a result of curtailments by natural gas producers.
The shortfall, caused by upgrades to gas infrastructure and decreased upstream investment by energy companies, is expected to continue through at least this year, according to industry officials.
A historic shipment of Liquified Natural Gas from Trinidad and Tobago will pass through the newly expanded Panama Canal on Monday and begin a new era of quicker exports to Asian markets.
Atlantic LNG has issued the following statement on the latest development.
"A cargo of Liquefied Natural Gas (LNG) produced by Atlantic, will leave the company’s facility in Point Fortin and traverse the newly expanded Panama Canal on July 26, 2016.
Trinidad and Tobago's close neighbour, Barbados has become the first Caribbean country to begin importing Liquified Natural Gas from the United States.
This is according to a report by the US Department of Energy's Office of Fossil Energy, which also shows that the prices paid by Barbados are in some cases more than double the amount of which this country is exporting LNG.
The report shows that six shipments of domestically-produced US LNG left the port of Hialeah, Florida between February 5th and April 29th, 2016, bound for Barbados.