In Brief
- Profit Surge: The NGC Group recorded a profit after tax of $2.258 billion for the first six months of 2026—a 104 per cent increase compared to the same period in 2025.
- Historic High: It is only the second time in the state enterprise’s 50-year history that it has achieved this level of profitability.
- Balance Sheet: Total assets rose to $44.566 billion, while shareholders’ equity reached $27.834 billion as of June 30, 2026.
- Leadership Response: Chairman Gerald Ramdeen credited a change in management approach initiated in 2025 for reversing previous financial declines and projected even stronger year-end results.
By Prior Beharry
The National Gas Company of Trinidad and Tobago Limited (NGC) and its subsidiaries have recorded a profit after tax of $2.258 billion for the first half of 2026, more than doubling the earnings achieved during the same period last year.
In a media release on Sunday, the state-owned enterprise announced that its profit for the six months ended June 30, 2026, increased by $1.152 billion—or 104 per cent—compared to the $1.106 billion recorded in the first half of 2025.
The NGC Group also delivered an adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) margin of 31 per cent.
According to the company, this level of profitability has only been achieved twice in its 50-year history, a milestone it described as extraordinary given the maturity of the local natural gas province and unpredictable global energy markets.
As of June 30, 2026, the Group’s total assets increased to $44.566 billion, while shareholders’ equity rose to $27.834 billion.
The company attributed the twofold profit increase to stronger commercial margins in its natural gas business, tight management of its liquefied natural gas (LNG) and natural gas liquids (NGL) business lines, and strict cost-containment initiatives.
Commenting on the financial results, NGC Chairman Gerald Ramdeen said the performance validated the shift in management strategy introduced following the change of administration in 2025.
“As our results attest, the change in approach to the management of The NGC Group that was initiated under the new administration in 2025 has proved highly successful to date at reversing the decline in profitability and the rot that marred the financial record under the former regime,” Ramdeen said.
He noted that during the first six months of the year, the Group focused heavily on supply reliability, national energy security and efficiency across the value chain, while seeking out new revenue streams and gas supplies.
Ramdeen added that the company expects full-year profits for 2026 to far surpass 2025’s performance, driven by higher expected gas volumes and favourable commodity prices for the remainder of the year.
“Despite the noise, these record numbers evidence what can be achieved by hard work, dedication, commitment and sacrifice,” Ramdeen said.
He said, “The NGC Group will continue to lead by example to demonstrate the value that can be created when State assets are managed with the aim of delivering to our people a proper return on their assets.”
NGC Acting President Edmund Subryan credited the Board, management and staff for restoring confidence in the company through disciplined expenditure management and risk oversight.
He said, “We trust that this performance will demonstrate our unequivocal commitment to doing what is necessary to return The NGC Group to a place of sustainable profitability, as the centrepiece of our state energy sector.”
