THE National Gas Company TT (NGC) signed on to multiple deals with other energy companies for exploration and supply purposes.
In separate releases, NGC announced that it will engage in a supply deal with Primera Oil and Gas Ltd, and memorandum of understanding for exploration in TT waters and possibly even further, with Trinity Exploration and Production.
NGC said their gas supply deal is with a subsidiary of Touchstone Exploration, and the deal was signed last week. Paul Baay, CEO of Touchstone said the agreement will provide a stable multi-decade revenue stream for their company and NGC president, Mark Loquan said the deal signaled an important milestone in TT’s gas story.
“This strategic partnership is not only promising for the industry and the companies involved, but it will greatly benefit the people of TT.
In another release concerning their MOU with Trinity, NGC said the range of opportunities coming out of this MOU will include opportunities to access compressed natural gas, renewable energy opportunities, the ability to search for stranded gas assets and opportunities in existing Trinity assets, as well as other opportunities.
“This signing is indeed a significant one as it provides the NGC group and the people of TT with an avenue to accelerate energy efficiency and renewable energy,” Loquan said.
Loquan said the agreement with Trinity goes hand in hand with the company’s corporate sustainability strategy. “The NGC group has made great strides in diversifying its business model to ensure the sustainability of all our entities,” Loquan added.