The National Gas Company has acquired several Heritage Petroleum Company Limited assets thereby strengthening its stake in the liquefied natural gas business.
Through its subsidiary NGC E&P Investments Limited, the National Gas Company has executed a Sales and Purchase Agreement for Heritage’s nineteen point five percent interest in Point Fortin LNG Exports Limited.
This is in addition to acquiring Heritage’s participating interest in the Offshore Blocks NCMA 4, Block 22 and Block 9, which are in Trinidad’s North Coast Marine Area.
NGC President Mark Loquan said, they are optimistic that this acquisition will bolster profitability and multiply the value that NGC can add to the economy and the domestic and LNG energy sector.