The National Gas Company of Trinidad and Tobago Ltd (NGC) has completed negotiations with Proman for the execution of a gas sales contract (GSC) for Methanol Holdings (Trinidad) Ltd (MHTL), a leading player in the global methanol industry.
The agreement was signed at NGC’s head office in Point Lisas on October 20.
In a release, NGC said this agreement marks the culmination of many months of negotiations.
“It will add stability to TT’s petrochemical sector, as it will govern supply to critical methanol-producing facilities on the Point Lisas Industrial Estate (PLIE),” it said.
Commenting on the GSC, NGC president Mark Loquan said, “In Proman and MHTL we found professional and collaborative partners, as dedicated to a mutually agreeable outcome as we have been. I want to commend all our teams for their unwavering commitment as we worked through this agreement, bearing current and prospective industry conditions in mind.”
Loquan added that NGC looks forward to further strengthening its relationship with the Proman group of companies and building a stronger, more sustainable petrochemical industry for the future.
Executive director of Proman Trinidad, Claus Cronberger echoed the same sentiments as NGC, saying this collaboration will establish a pathway for methanol as a lower-emission fuel of the future.
He added this will play a key role in TT’s energy transition.
“We are pleased to have signed the new GSC with the NGC for our methanol facilities in TT. Our methanol plants on the PLIE, and the highly skilled team who operate them, are an important part of Proman’s global production portfolio and represent a significant part of the local energy sector. I would like to thank the NGC team involved in achieving the successful conclusion of this negotiation,” Cronberger said.