PM Keith Rowley participates in signing agreement for restructuring of Atlantic LNG in Trinidad and Tobago

Trinidad and Tobago: Prime Minister Dr Keith Rowley witnessed the signing agreements of the substantive commercial terms for the restructuring of Atlantic LNG at the Hilton Trinidad & Conference Centre on December 06, 2022.

The signing entails the amended and restated Heads of agreement between the Government of the Republic of Trinidad and Tobago and Atlantic LNG Shareholders, Shell Trinidad and Tobago Limited (Shell), BP Trinidad and Tobago LLC (BPTT) and the National Gas Company of Trinidad and Tobago Limited on the restructuring of the Atlantic LNG facility into a single unitised facility and to the Bilateral Heads of Agreement between the Government of the Republic of Trinidad and Atlantic LNG Shareholders BPTT and Shell on the Restructuring of Atlantic LNG.

Delivering the feature address, Prime Minister Rowley stated that these agreements indicate that the Government and the Shareholders have agreed to the commercial terms of a restructured Atlantic LNG.

He explained that “The commitment of the ALNG Shareholders to the restructuring process and ultimately the execution of Definitive Agreements is a clear testimony of the confidence of BPTT and Shell in the domestic energy sector.”

The Prime Minister said, “This confidence did not come about by chance but through the deliberate engagement by Government, at the highest levels, out of the Office of the Prime Minister working with the Ministry of Energy and Energy Industries, with upstream companies operating in our domestic energy sector.”

Dr Rowley said he looked forward to the culmination of the execution of the Definitive Agreements by March 31, 2023, and a bright future for all the shareholders of Atlantic LNG.

The signing ceremony was attended by the Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, Stuart Young, Senior Vice President and Country Chair of Shell Trinidad and Tobago; Eugene Okpere, President of bp Trinidad and Tobago LLC; David Campbell and President of the National Gas Company of Trinidad and Tobago Limited, Mark Loquan.