Trinidad reaches deal with BP and Shell, extends Atlantic LNG train 1 life

Trinidad reaches deal with BP, Shell, extends Atlantic LNG train 1 lifeImage courtesy of BP

The government of Trinidad and Tobago has agreed on the terms with LNG giants BP and Shell extending the operational life of Atlantic LNG train 1 at the country’s only export facility in Point Fortin. 

Speaking at the post-cabinet media conference, min­is­ter in the Of­fice of the Prime Min­is­ter Stu­art Young, said that after months of ‘intense but progressive negotiations’ started in April this year, an agreement was reached with the two energy giants.

The focus was on extending the life of Atlantic LNG train 1 beyond April next year, Young said, adding that the deal was reached to extend the life of the train for another five years.

The country has also agreed on a new pricing formula going forward, he said without giving away details that are to be unveiled in the next couple of weeks.

As part of the arrangement, Trinidad and Tobago has for the first time been able to secure the ability to sell LNG cargoes on behalf of the government through the National Gas Company of Trinidad and Tobago.

More major agreements have been reached with BP which will be unveiled in the coming weeks by the company. Young did say during the conference that the agreements have secured further investment in Trinidad and Tobago.

The negotiations with BP will move into the next stage and talks with Shell in regards to their terms and operations in Trinidad and Tobago in the following weeks.

Atlantic LNG in Point Fortin, capable of producing 14.8 mtpa of LNG, is owned by BP, Shell, China’s sovereign wealth fund CIC unit Summer Soca and Trinidad’s NGC.

Share this article

Follow LNG World News


<< Apr 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >