Caption: Chargé d’Affaires Philip Kern, left, and Chairman of the NGC Gerald Ramdeen
In Brief
- Massive Gas Acquisition: The NGC has signed a deal to acquire 100% of EOG Resources’ gas volumes from the Coconut field, adding 300 billion cubic feet (bcf) to its supply by 2027.
- Aphrodite Sanctioned: Negotiations with Shell have concluded, sanctioning the Aphrodite development and securing significantly higher value for the country.
- Investor Confidence: The energy and industrial sectors are seeing major investments, including the revitalisation of the Point Lisas steel complex by Ibis Steel, new storage infrastructure, and ExxonMobil’s return for deepwater exploration.
By Prior Beharry
The National Gas Company (NGC) is set to boost its natural gas supply by 300 billion cubic feet (bcf) following a major acquisition agreement, according to NGC Chairman Gerald Ramdeen.
Speaking at a networking reception between T&T downstream operators and the NGC at the Chief of Mission Residence in Flagstaff Hill on Tuesday, Ramdeen announced that the state company has signed a term sheet to acquire 100% of EOG Resources’ gas volumes from the Coconut gas field.
The Coconut development, which reached a final investment decision by bpTT in 2024, is a 50/50 joint venture between bpTT and EOG Resources Trinidad Limited. Ramdeen noted that originally, 85% of Coconut’s volumes were destined for Atlantic LNG.
“The completion of this agreement will add 300 bcf of gas to NGC supply, which is 300% more than what was originally allocated when the development was sanctioned under the former administration,” Ramdeen said.
He said that first gas from Coconut is expected in the third quarter of 2027.
Ramdeen said, “These are the type of decisions that will preserve our downstream sector and ensure our national prosperity into the future.”
Aphrodite development sanctioned
Ramdeen also confirmed that the NGC has completed negotiations with Shell, leading to the sanctioning of the Aphrodite development. First gas from this project is expected in the second quarter of 2027.
Praising the NGC’s commercial team, led by Acting President Edmund Subryan, Ramdeen stated that the newly concluded terms brought “400% more value to the NGC and by extension this country than what was negotiated by the previous administration.”
Ramdeen said that these projects—alongside Manatee, Cocuina-Manakin, Calypso, Loran, and deepwater production—signal a turning point for the nation’s energy sector. “Together they show that the country is no longer waiting passively for decline,” he said.
‘Renewed investor confidence’
Beyond natural gas supply, the NGC Chairman highlighted a wave of renewed investor confidence across the industrial and energy landscape.
- Ibis Steel Revitalisation: The government has attracted Ibis Steel to revitalise the former steel complex at Point Lisas, with the goal of making T&T the foremost producer of vanadium in the free world. A second steel investment is also under consideration.
- Strategic Storage Infrastructure: An MoU has been signed with Curlew Midstream to develop storage infrastructure at Point Fortin. This project aims to guarantee the country’s petroleum supply, protect against global market instability, and expand T&T’s marine, bunkering, and trading capabilities.
- ExxonMobil’s Return: Following the execution of a Production Sharing Contract for the TTUD-1 ultra-deepwater block, ExxonMobil has commenced an exploration programme that includes one of the largest seismic surveys ever undertaken in T&T.
Ramdeen said, “Its return tells the global investment community that Trinidad and Tobago is again open to serious exploration, serious capital, and serious long-term partnership in our energy sector.”
