The National Gas Company (NGC) of Trinidad & Tobago has finalised a commercial agreement with the Global Petroleum Group (GPG) operating in Grenada.
In a release, NGC said the agreement marks a major development in the collaboration and energy cooperation among Caricom countries and is an important pillar in growing and strengthening the region’s economies.
“The relationship between the two companies is a result of the Energy Sector Development Framework Agreement signed between the Government of the Republic of T&T and the Government of Grenada. GPG is an oil and gas company currently undertaking exploration and appraisal activities off the south coast of Grenada, near the Patao/Dragon fields in Venezuela and North Coast Marine Area (NCMA) fields in Trinidad.”
The release said NGC Chairman Gerry Brooks indicated that with the support of Government, the company will continue to work closely with GPG and the Grenada Government as the project progresses.
“Brooks articulated his optimism that the framework agreement between the two Governments will foster a partnership of mutual benefit and growth opportunities for both countries. The agreement signals NGC’s unwavering resolve to meet the challenge of gas supply in Trinidad & Tobago by providing a ready market for the sale of natural gas and natural gas liquids (NGLs),” the release said.
“To effectively monetise any gas reserves in the fastest possible time, NGC will utilise existing domestic infrastructure as well as leverage our four decades of experience and technical proficiency in pipeline construction and natural gas transportation.”
NGC also added that in the fulfilment of its mandate to be “the prime mover in gas-based development,” it has forged strong linkages, both upstream and downstream, and established energy partnerships in foreign jurisdictions.
“The company has facilitated numerous early business development projects which have shaped the local natural gas landscape. It is these capabilities and expertise which NGC will utilise to assist GPG in developing Grenada’s natural gas-based energy sector.”
NGC President Mark Loquan added that NGC and GPG will continue joint studies to determine the best fit to provide natural gas-based fuel to meet Grenada’s domestic gas requirements as well as, any other areas of mutual benefit relative to the energy sector in the region. ¤