The National Gas Company of Trinidad and Tobago Limited (NGC) has signed a Memorandum of Understanding (MOU) with a consortium comprising Globus Energy Group Trinidad Limited (Globus Energy), Corban Energy Group (Corban Energy) and Chester LNG LLC (Chester LNG), to identify and screen technologies for micro and small-scale LNG development projects in the Caribbean. This MOU signing signals the commitment of all the companies involved to explore viable solutions to effectively manage energy security and low-carbon energy transition, and potentially expand the use of LNG across the region.
There is a pragmatic case for incorporating LNG as part of the energy transition in the Caribbean.
While sustainable energy has well-defined financial, social, environmental and economic benefits, the region faces significant challenges in making a transition to renewables. Small Caribbean islands cannot adopt wholesale, a standardised model of transition to renewables, as they all have different geographical characteristics and economic circumstances.
As the world transitions towards low-carbon energy, harnessing natural gas – the cleanest burning fossil fuel – provides an opportunity to reduce carbon output during the energy transition. As such, micro and small-scale LNG projects can positively contribute to creating a cleaner energy mix for the region, as well as support climate change action within the Caribbean.
The MOU provides an opportunity to explore the feasibility of small-scale LNG projects as well as the possibility of sourcing the LNG supply from gas reserves locally and across the region, to deepen and expand the value chain. Beyond a focus on small-scale LNG projects, the MOU will also look at any new opportunities and initiatives where NGC and the consortium may deepen their collaboration.
NGC President, Mr. Mark Loquan remarked, “This partnership and its potential outcomes fit seamlessly within NGC’s Green Agenda and our sustainability thrust. Micro and small-scale LNG solutions can enable our region to meet its energy needs today in a more sustainable way than currently obtains. As a future-minded energy company, NGC and the wider NGC Group are actively investing in such solutions, which also include renewable energy projects and energy efficiency initiatives. Through this MOU, we are pleased to take yet another step on the journey towards sustainable energy leadership.”
Angela Lee Loy, Authorised Representative for the Globus Energy and the consortium stated, “The consortium looks forward to collaborating with the NGC based on the impressive history and track record of this outstanding organisation. Our objective is to provide modern, efficient, and affordable energy solutions across the region. We are confident that this relationship could be a catalyst for low carbon energy, as we work together on energy security across the Caribbean Basin.”
The partnership and MOU between NGC, and the consortium of Globus Energy, Corban Energy and Chester LNG represent an unwavering commitment to support and pursue a cleaner, more sustainable energy future.