Caption: Energy Minister Dr Roodal Moonilal, second right, has the attention of US Embassy Chargé d’Affaires Philip Kern, left, Chairman of the NGC Gerald Ramdeen, second left, and Political and Economic Counselor of the US Embassy Scott Hansen
In Brief
- Strong US ties: Ramdeen reaffirmed T&T’s alliance with the US under PM Persad-Bissessar and President Trump, praising shared democratic values and a joint stance against dictatorships.
- Record profits & supply: NGC recorded a TT$3.46 billion profit for 2025. Ramdeen announced the acquisition of 300 bcf of gas from the Coconut field and the sanctioning of the Aphrodite development.
- Downstream expansion: The Government will expand Point Lisas by 500 acres. Ramdeen urged a move into higher-value derivatives and data centres, warning that future gas volumes will soon exceed Atlantic LNG’s capacity.
By Prior Beharry
National Gas Company (NGC) Chairman Gerald Ramdeen notes that Trinidad and Tobago will steadfastly maintain its alliance with the United States.
Speaking at a networking reception with downstream operators at the Chief of Mission Residence in St James on Tuesday, Ramdeen praised Prime Minister Kamla Persad-Bissessar’s alignment with US President Donald Trump, despite regional backlash. Also present at the event were Energy Minister Dr Roodal Moonilal, US Embassy Chargé d’Affaires Philip Kern, and Political and Economic Counselor of the US Embassy Scott Hansen, Energy Chamber President Priya Marajh, American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T) President Anna Henderson, AMCHAM CEO Nirad Tewarie and Proman Deputy Managing Director Giselle Thompson.
He said, “Our Prime Minister, in the face of severe criticism from Caricom and the wider region, has stood with the United States and will continue to stand with the United States of America as we together fight against those regimes that pursue power by suffering their people.”
A few minutes earlier, Prime Minister Kamla Persad-Bissessar had addressed the United National General Assembly where she expressed public gratitude to United States President Donald Trump for his administration’s regional security initiatives.
He said that the two nations share core values of freedom, democracy, and meritocracy. Noting that President Trump’s mother was Scottish and the Persad-Bissessar is the descendant of indentured labourers, Ramdeen—himself the grandchild of a water carrier on a sugarcane estate—cited these humble beginnings as testaments to societies founded on equal opportunity.
Quoting Winston Churchill’s post-war victory speech, he urged the two nations to march forward as “enduring allies in the cause of a world that is more peaceful, more prosperous and more just.”
Ramdeen also said that the opening of Venezuela’s energy resources must be accompanied by a return to full democracy.
He said, “This must never become a choice between sovereignty and humanity, or between commercial opportunity and democratic principle.”
Ramdeen also detailed a massive financial and operational turnaround for NGC.
He heavily criticised the previous People’s National Movement (PNM) administration for leaving the sector in “absolute paralysis,” citing NGC losses of TT$2.1 billion in 2020 and TT$1.3 billion in 2023, alongside a four-year delay in repairing a subsea pipeline that cost US$277 million in lost revenue.
Since the new board took office in July 2025, commercial discipline has been restored. The NGC Group recorded a profit after tax of TT$3.46 billion for 2025, a 111 per cent increase over 2024, with revenues rising to TT$23.68 billion.
Ramdeen announced major supply breakthroughs, declaring the country is moving “from managing scarcity to planning opportunity.”
The NGC has signed a term sheet to acquire 100 per cent of EOG Resources’ volumes from the Coconut field, adding 300 billion cubic feet (bcf) of gas. First gas is expected in Q3 2027.
Additionally, the Aphrodite development with Shell has been sanctioned, with first gas expected in Q2 2027, yielding terms that Ramdeen said brought 400 per cent more value than previously negotiated.
Ramdeen said there was renewed investor confidence.
He pointed to the return of ExxonMobil for ultra-deepwater exploration, Ibis Steel’s revitalisation of the Point Lisas steel complex to produce vanadium, and a memorandum of understanding with Curlew Midstream for storage infrastructure at Point Fortin. To further accommodate growth, the Government will expand the Point Lisas Estate by 500 acres to the north. The NGC has also acquired the Trinidad Region Onshore Compressor (TROC) from bpTT to improve pipeline flow and integrate future supply.
Addressing downstream operators directly, Ramdeen promised a new commercial architecture. He acknowledged the struggles caused by short-term gas arrangements and committed to providing longer-term contracts to ensure operational certainty.
However, he also stressed that the State intends to participate more deeply in downstream businesses, learning from the historical loss of its ownership position in Methanol Holdings Trinidad Limited (MHTL).
Ramdeen warned that the industry must evolve “downstream of the downstream.”
He envisioned expanding from traditional methanol and ammonia into specialised fertilisers, resins, polymers, and higher-value metals, while using competitively priced electricity to attract data centres and advanced manufacturing.
Ramdeen also issued a firm warning on transfer pricing, stating that the Government must protect its revenue.
He said, “We must address transfer pricing with stronger data, capable institutions and coordinated tax administration so that value created in Trinidad and Tobago is not booked elsewhere through opaque related-party arrangements.”
Ramdeen noted that Atlantic LNG is operating at approximately 65 per cent capacity.
However, as new domestic and Venezuelan volumes come online, supply will ultimately exceed what Atlantic alone can absorb. “That is precisely why preservation and expansion of the domestic downstream are matters of strategic urgency and national importance” he said.
