The National Gas Company of Trinidad and Tobago Limited (NGC) has signed a new Gas Sales Contract (GSC) with Point Lisas Nitrogen Limited (PLNL), securing the continued supply of natural gas to the company’s ammonia production facility.

In a statement, NGC said the agreement marks a significant milestone for both companies following negotiations aimed at reaching terms that support the interests of both parties.

PLNL owns and operates a plant that produces anhydrous ammonia for export to international markets. NGC said the new contract will allow the company to continue meeting its obligations to customers while contributing to national revenue through its operations.

According to NGC, the agreement also reflects its commitment to providing a reliable and economically viable supply of natural gas to downstream petrochemical producers.

Acting President of NGC Edmund Subryan said the negotiations required careful balancing of the needs of multiple stakeholders.

He commending the legal and commercial teams from both companies for their efforts in reaching the agreement.

He added that NGC looks forward to strengthening its partnership with PLNL as part of efforts to support a resilient and sustainable domestic downstream energy sector.

NGC Chairman Gerald I. Ramdeen said the company remains mindful of its role in the country’s energy industry as the aggregator and supplier of natural gas to downstream industries.

“The execution of the GSC is a solid indicator of the resilience and permanency of the local petrochemical sector,” Ramdeen said.