Restructuring of Trinidad’s Atlantic LNG in final review

Trinidad and Tobago’s government is finalizing a review of the proposed restructuring of Atlantic LNG (ALNG), according to energy minister Stuart Young.

Young was speaking during the post-budget debate in parliament where he said news is expected within a month.

In December 2022, the government inked an amended and restated heads of agreement with ALNG shareholders Shell, BP and the National Gas Company of Trinidad and Tobago, following the signing of the original deal in January last year. Initial talks began in 2018.

The reorganization aims to operate the LNG facility through a more streamlined ownership and commercial structure, and open gas supply to third parties.

Four trains make up ALNG, one of which went idle in 2020 due to the country’s gas shortfall and the impact of COVID-19 on demand.

Energy ministry information shows that LNG was the principal offtaker of gas in the first six months of 2023, accounting for nearly half of the 2.55Bf3/d used in period, followed by the manufacturing of methanol (21%) and ammonia (17%), and power production (10%).

In January-June this year, ALNG produced 9,007,790m3 and sold 9,074,069m3.