Joel Julien, T&T Guardian
POR SPAIN
EnergiesNet.com 10 19 2022
The National Gas Company of T&T Ltd is still a symbol of excellence, its recently appointed chairman Dr Joseph Ishmael Khan has stated.
Khan made the statement in the company’s published annual report.
“Looking now to the future, we have stepped into 2022 as a resilient, profitable, evolving group of energy companies, still a driver of national development, still a symbol of excellence,” Khan stated.
“Whatever comes our way, we will meet it with the same spirit and dynamism that have brought us this far. We are intent on remaining relevant in the new age of energy, delivering ever more value for our country,” he stated.
The NGC has published its 2021 Annual Report, which presents the consolidated financial performance of The NGC Group for the period January to December 2021.
“The NGC Group of Companies recorded a profit of $2.6B for the financial year ended December 31, 2021, representing a strong recovery over the loss of $2.1B recorded in 2020. The group’s revenues of $23.6B were $12.2B greater than revenues of $11.4B for the year 2020,” a release from the company stated.
“The rebound in commodity prices in 2021 positively impacted revenues, with prices for ammonia, methanol, liquefied natural gas (LNG) and natural gas liquids (NGLs) being 190 per cent, 92 per cent, 911 per cent and 112 per cent higher respectively. Moreover, exceptional items recorded in 2020 did not impact the organisation in 2021,” it stated,
Also driving The Group’s performance in 2021 was its unwavering commitment to enhanced value creation and the advancement of its Green agenda, the release stated.
Among the company’s highlight of achievements are new sales and supply contracts which will support the longevity of the gas-based downstream and sector and the acquisition of Heritage Petroleum’s interest in Block 3(a), increasing NGC’s shareholding from 11.41 per cent to 31.54 per cent.
“The NGC Group continues to prove its value to T&T and its strength as a veteran energy business through its consistent performance and resilience in the face of adversity.
“The group’s robust recovery after a historically difficult year across the globe gives evidence of visionary and strategic leadership, dedicated and talented employees, a bold strategy for growth and a collective passion for service to this country,” Khan stated.
guardian.co.tt 10 18 2022
