NGC of Trinidad Reaches LNG Milestone
NGC made a step into the arena of Liquified Natural Gas (LNG) marketing–a first for a wholly state-owned company. Previously, LNG volumes from NGC’s interest in Train 4 were solely marketed by a third party.
After a global tendering process, NGC sold the cargo to a major hydrocarbon trading company with offices in Singapore and Geneva. The LNG volume of approximately 118,000 cubic meters was loaded onto the LNG carrier Gallina. NGC’s venture with this cargo has brought significant revenue to the country.
NGC’s President, Indar Maharaj, described the historic sale as “another step in our transformation process” as it opens the way for NGC to become a major player in the global LNG trading market and aligns with company’s Mission to “create exceptional national value from natural gas and energy businesses”.
LNG World News Staff, October 04, 2012; Image: NGC