Prime Minister Attends 25th Anniversary and Restructuring of Atlantic LNG

Prime Minister Dr the Hon. Keith Rowley expressed his gratitude to the negotiating teams from the Government of Trinidad and Tobago, bp Trinidad and Tobago (bpTT), and Shell, for their dedication to ensuring the successful restructuring of Atlantic LNG, which takes effect from October 1st, 2024.

Dr Rowley made the remarks during a ceremony to commemorate the company’s 25th Anniversary and the commencement of the restructured agreement in Point Fortin today (Friday 27th September, 2024).

In December 2023, the Government secured a new unitized commercial structure for Atlantic LNG which allows the National Gas Company of Trinidad and Tobago (NGC) to obtain a greater share of the revenue derived from the sale of LNG on the global market for the citizens of Trinidad and Tobago.

During his feature address, Dr Rowley noted that, “This restructuring is more than the shareholding issue. It is mainly also about creating that platform for investment to maintain a stream of gas so that this business can have a future.”

Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister the Hon. Stuart Young SC, Minister of Agriculture, Land and Fisheries, Senator the Hon. Kazim Hosein and Member of Parliament for Point Fortin, the Hon. Kennedy Richards Jr were also in attendance at today’s event.

The event concluded with a tour of the facility.