Saturday 22 September, 2018

Agreements between Gov't, Shell by September

Government and global oil and gas giant Shell are moving toward securing the long-term future of the gas industry in Trinidad and Tobago, with agreements expected by September.

The Trinidad and Tobago delegation arrived in London on Monday which included a team of energy experts led by Prime Minister Dr Keith Rowley. Official engagements began almost immediately with Shell executives.

The Government’s delegation included: Minister of Energy and Energy Industries, Franklin Khan, Minister in the Office of the Prime Minister and the Ministry of the Attorney General and Legal Affairs, Stuart Young, Mark Loquan, President of National Gas Company, Leroy Mayers, Heidi Wong and Richard Jeremie, Advisors, Ministry of Energy and Energy Industries.

Shell’s delegation included Maarten Wetselaar, Integrated Gas and New Energies Director, Mr. De La Rey Venter, Executive Vice President, Integrated Gas Ventures, Derek Hudson, Vice President and Country Chairman, Trinidad and Tobago and Anders Ekval, Business Opportunity Manager, Atlantic LNG.

This meeting was a continuation of the conversations between the Government and high-level executives of the major energy companies operating locally to discuss the governing principles for discussions and negotiations going forward.

Following Monday’s meeting, both parties agreed to establish empowered negotiating teams that will meet from the second half of May 2018.

These teams will work on a priority basis, on a number of matters including, but not limited to, Atlantic LNG and the socio- economic contribution of the LNG business to Trinidad and Tobago, extensions of various upstream Production Sharing Contracts (PSC), Venezuelan initiatives and new domestic gas arrangements.

It is expected that the negotiating teams will report back to their principals with agreements by September 2018.

As the Prime Minister continues to place focus on substantial personal effort towards strengthening this country’s relationships with multinationals in the energy sector, Government has stated its intention to achieve better returns for its citizens.

Both Shell and BP have indicated their willingness to hold negotiations and discussions with the Government.

The Prime Minister and the delegation will meet with high-level executives of BP on Tuesday for similar talks.

 

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