Ngc Agreement

On April 17, 2019, NGC and Shell (Shanghai) Technology Ltd signed a technology cooperation agreement in Nanjing. The two companies will work closely together in a wide range of areas, including: NGC said that, with the agreement now in force, the next steps will be the conclusion of detailed conditions for gas supply agreements and the development of the De Coho and Cascadura fields. NGC said the next step would be to complete the detailed gas supply and development conditions of the Coho and Cascadura fields. President Mark Loquan said: “NGC is aggressively pursuing new gas sources as part of our growth strategy, and this adds an additional level of stability to supply with a promising new outlook.” Touchstone CEO Paul Baay added that the deal was an exciting opportunity for the company, a small marginal manufacturer, to work with two leading TT organizations to fully expand its existing and future natural gas discoveries in Ortoire. “NGC brings the overall understanding of the gas infrastructure to the project and Heritage brings technical knowledge to support the Touchstone team,” he said. NGC President Mark Loquan said: “This announcement is timely, as this GSA will improve our current natural gas supply to the Pt. Lisas Industrial Zone. This is an important step for the local energy sector and an opportunity to work with a new local gas producer with the financial strength, technical capabilities and agility to monetize these reserves in a short period of time. NGC is committed to working with upstream players such as DeNovo to maintain the global competitiveness of our petrochemical producers, and this agreement represents the continued appeal of Trinidad and Tobago`s energy industry to global investors.

A new oil and gas agreement between the National Gas Company (NGC), Heritage Petroleum and Touchstone Explorations promises a boost to TT`s gas supply to existing markets. During the productive meeting, Gary Sun, Technical Director of NGC, and Dr. Cameron Watson, General Manager Lubricants Technology AP of Shell (Shanghai) Technology Center, entered into a technical cooperation agreement on behalf of the two companies. The framework agreement was entered into with National Gas Company (NGC) and Heritage Petroleum Company, both wholly owned by T-T Corporation Sole, the company that holds assets for the state.

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