Sunday 19 May, 2019

NGC, Rheingau sign MoU for LNG collaboration

From left to right: NGC President Mark Loquan, Ambassador to China Stephen B. Seedansingh Jr., Minister of Foreign Affairs, Trinidad and Tobago Dennis Moses, Minister in the Office of the Prime Minister Stuart Young, Ju Weimin, Vice Chairman and President, China Investment Corporation (CIC); Mr Benjamin Bao, Managing Director, CIC Capital Corporation; Ms Lu Yuling, Beijing Rheingau Investment Corporation; Mr Xu Zhiyu, Director, Department of Public Relations & International Cooperation, CIC.

From left to right: NGC President Mark Loquan, Ambassador to China Stephen B. Seedansingh Jr., Minister of Foreign Affairs, Trinidad and Tobago Dennis Moses, Minister in the Office of the Prime Minister Stuart Young, Ju Weimin, Vice Chairman and President, China Investment Corporation (CIC); Mr Benjamin Bao, Managing Director, CIC Capital Corporation; Ms Lu Yuling, Beijing Rheingau Investment Corporation; Mr Xu Zhiyu, Director, Department of Public Relations & International Cooperation, CIC.

T&T and China have strengthened their relations with a new collaboration between the National Gas Company (NGC) and Beijing Rheingau Investment Corporation (Rheingau).

A recently signed Memorandum of Understanding will pave the way for both companies to explore areas of cooperation.

NGC and Beijing Rheingau Investment Corporation (Rheingau) signed a Memorandum of Understanding to explore areas of cooperation, opportunities for growth and expansion available to both organisations,   and to provide a springboard for further energy collaborations.

These potential areas of cooperation will include partnering on the sale of LNG from Atlantic’s Train 1 facility.

NGC said this is will be key in the China market, where LNG demand and imports have been growing significantly and are projected for continued growth due to environmental policy.   

It added that the cooperation represents not only a realisation of NGC’s mandate to become a global player but also illustrates the confidence of the international community in the Trinidad and Tobago natural gas business.

Rheingau is a subsidiary of CIC Capital Corporation, which is a subsidiary of China Investment Corporation. An affiliate of Rheingau and NGC, are both shareholders in Atlantic LNG Train 1. 

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