BG
gas for local use
By Driselle Ramjohn
Trinidad Express
Port
Spain
Petroleumworldtt.com
01 21 07
THE BG GROUP is to supply more than 220 million
cubic feet of natural gas to the National Gas Company
of Trinidad and Tobago, for use on the domestic
natural gas market.
BG Group plc and its partner, Chevron,
announced last week that they entered into Heads
of Agreement with NGC for the supply of the natural
gas, which is expected to run for a term of up to
15 years, with deliveries commencing on January
1, 2009.
A fully termed sales agreement on
the supply of the gas is expected to be finalised
this year.
"The proposed agreement underpins
the commercialisation of 1.2 trillion cubic feet
of currently undeveloped gas in the East Coast Marine
Area," said Martin Houston, BG executive vice
president and managing director, North America,
Caribbean and global LNG.
"This is an excellent project
and BG Group is delighted to have reached this agreement
with NGC. We are a long-term partner in the country
and a key contributor to the domestic gas supply
market."
Houston said the company remains
committed to its extensive exploration and production
activity in the East and North Coast Marine Areas,
as well as the onshore Central Block.
The East Coast and the North Coast
Marine Areas each include four natural gas fields
off the coast of Trinidad and Tobago.
BG will continue to work closely
with the Government to promote further expansion
and recovery of Trinidad and Tobago's natural gas
resources, the BG executive added.
Trinidad
Express
Tuesday,
January 9th 2007
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©2006 Trinidad Express. All Rights Reserved.
