Minister in the Office of the Prime Minister Stuart Young has announced that the government has reached an agreement with Bp and Shell that he says will bring "significant" financial benefits to Trinidad and Tobago.
The agreement involves new pricing arrangements, the extension of the Atlantic LNG Train 1 by a further five years, and the ability of the National Gas Company (NGC) to export liquified natural gas (LNG) on behalf of T&T.
The minister made the announcements as he addressed today's post-Cabinet media conference.
Petrotrin chairman Wilfred Espinet says while he told Government officials that the refinery would likely not be profitable in a meeting in January, he never advised Government to close down Petrotrin.
Espinet made the comment yesterday during cross-examination by Oilfields’ Workers’ Trade Union attorney Douglas Mendes SC, as the union’s industrial relations offence complaint against Petrotrin continued.
Opposition Leader Kamla Persad-Bissessar will speak to the Guyanese private sector on lessons Trinidad and Tobago has learned on managing oil and gas revenues when she attends a function in Guyana tomorrow.
Persad-Bissessar will give the presentation as the featured speaker at the 23rd Awards Presentation and Dinner hosted by the Guyana Manufacturing & Services Association’s (GMSA) at the Pegasus Hotel, Georgetown.
Upon the closure of Petrotrin’s refinery next month, there will be a 20-day supply of fuel from stock “to start with,” Energy Minister Franklin Khan has assured the travelling public.
“Trust me - I want to give the country the assurance there will be a smooth transition from refinery fuel to imported fuel,” Khan added in Parliament yesterday in reply to Opposition concerns over the fuel supply after the refinery’s closure.
The Energy Chamber of Trinidad and Tobago says it warmly welcomes the signing of the Memorandum of Understanding between the governments of Guyana and Trinidad and Tobago and congratulates both governments on this positive step towards strengthening regional economic and social integration.
The MOU recognizes that the development of the energy sector contributes significantly to the strengthening of economic and social development while improving the quality of life of the citizens of both countries.
Energy Minister Franklyn Khan says there is nothing sinister about the secretive storage of hundreds of barrels of catalysts inside Petrotrin's compound, which are needed to start up petrochemical processing units in the Pointe-a-Pierre refinery.
Photographs of the catalysts were obtained exclusively by the T&T Guardian and were stored under an unoccupied, overgrown, multi-story structure inside the Petrotrin compound at Pointe-a-Pierre.
Prime Minister Dr Keith Rowley received a courtesy call from Chairman of Royal Dutch Shell, Charles O. Holliday today at the Diplomatic Centre, St. Anns.
Minister of Energy and Energy Industries, Franklin Khan and Minister of National Security, Minister of Communications and Minister in the Office of the Prime Minister, Stuart Young were also at the meeting.