By Prior Beharry
PRIME Minister Dr Keith Rowley discusses with Chief Executive Officer of BP Bernard Looney the restructuring of Atlantic LNG.
A release from BP on Thursday stated, “Prime Minister Rowley and Mr Looney also discussed the restructuring of Atlantic LNG which remains a priority for the Government, bp and Atlantic partners. Atlantic shareholders and the Government are actively exploring the commercial restructuring of Atlantic with the objective of creating a simpler commercial structure to support more efficient utilisation of all trains and improve value to Trinidad and Tobago.”
BP and Shell are the largest stakeholders in Atlantic Train 1 which has been closed due to the lack of gas.
The meeting also included Minister of Energy and Energy Industries Stuart Young, BP Senior Vice President for Trinidad Claire Fitzpatrick. It took place on Thursday in London after Rowley’s attendance to the United National Climate meeting in Glasgow, Scotland.
The release stated, “This meeting was timely as leaders gathered in Glasgow for the COP 26 meeting and Mr Looney welcomed the opportunity to re-connect with the Trinidad and Tobago delegation and discuss how bp is progressing on its path to becoming a net zero company by 2050 or sooner and how the company can support Trinidad and Tobago in its energy transition goals.”
BP is the largest natural gas producer in T&T accounting for about 50% of national production.
The release stated, “Natural gas will continue to play an important role in the energy transition globally and Mr Looney shared with the delegation how BP is playing its part by maximizing production from its existing facilities in Trinidad as well as working to bring new developments online.
“In September, the company announced first gas from its Matapal development and is now focused on bringing the Cassia Compression development online in 2022.
“Looney also announced bpTT’s plans to resume its infill drilling programme in T&T in 2022.”
The release also noted that BP was looking forward to the results in the current deepwater appraisal programme in which BP is a partner with BHP.
Looney also spoke about progress BP and EOG were making regarding the sanction of Mento – a new field development to be operated by EOG.
He said, “These new developments being delivered by bp and our partners represent billions of dollars of investment into Trinidad and Tobago and will be important for sustaining gas production for the country and supporting bp’s strategy to deliver resilient and focused hydrocarbons.”
The release noted that in support of its net zero ambitions, BP was also investing in activities to sustainably reduce carbon emissions in its operations in Trinidad and was investing in new low carbon projects in the country, including the country’s first utility scale solar project.
The company is part of a consortium with Lightsource bp and Shell that is working towards delivering 112MW of solar electricity capacity by 2023, it stated.
