THE National Gas Company (NGC) and Shell TT Ltd sign a domestic gas sales agreement to bolster the supply of natural gas to the Trinidad and Tobago market.
The agreement was signed on Monday, according to a release from NGC.
The release stated that NGC said the signing of the contract followed on from the signing of a term sheet in June with Shell.
That signing allowed Shell to make a final investment decision regarding the Barracuda Project off the east coast of Trinidad, it stated.
NGC said the domestic gas sales contract (DGSC) would ensure “continuity of gas supply by Shell TT to NGC, bolstering the supply outlook for domestic consumers.”
NGC President Mark Loquan said the DGSC allowed the NGC to achieve “one of its main strategic goals by securing obligations to the downstream, power and light industrial customers with improved stability and availability.”
Shell TT vice president and country chair Eugene Okpere said the contract underscored the company’s commitment to supply 20 to 30 percent of its production to the domestic market.
Okpere said the DSGC also reaffirmed Shell’s commitment to strategically invest in TT’s continued growth and development.