Govt, Shell finalize negotiations on gas related issues

    0

    The Energy Minister has announced the finalization of negotiations between Government and Shell on gas related issues.

    In April 2018, a delegation led Prime Minister Dr Keith Rowley held high-level discussions with Shell’s Executive Management in London, agreeing to the appointment of empowered negotiating teams.

    Those teams had their first meeting in August 2018, and following negotiations, a Heads of Agreement was agreed to and executed on May 29th 2019.

    The terms of that Agreement outlined the finalization and execution of the definitive agreements on the various gas related issues.

    The definitive agreements involving the Government, Shell, NGC TT and Heritage Petroleum Company Limited were finalized and executed in a signing ceremony today (August 19th) at the Energy Ministry’s Office in Port of Spain.

    The Ministry says the outcome of negotiations has resulted in improved economic and financial benefits to the country and is a vindication of the Government handling of this matter.