Curtis Williams
OGJ Correspondent
PORT OF SPAIN, Mar. 23 -- BG Group has signed a memorandum of understanding with Trinidad and Tobago for a joint study to determine the feasibility for an additional LNG export train at the liquefaction plant at Point Fortin, Trinidad (OGJ, Feb. 19, 2007, Newsletter).
"We have an unrivalled ability to put together gas chains: working with the government, our [Trinidad & Tobago LNG] joint venture will open up new possibilities for the country's gas—and perhaps also Venezuelan gas—to reach markets," said BG Chairman Robert Wilson.
Wilson delivered the keynote address at a luncheon hosted by BG in Trinidad, where the entire BG Group board assembled to hold its first ever meeting outside London—"to understand the importance of [Trinidad and Tobago] in the global gas market and the part that we play here," said Wilson.
He also said BG has just concluded a heads of agreement with National Gas Co. of Trinidad & Tobago LLC to commit an additional 1.2 tcf of gas to the domestic market.
Wilson said BG is awaiting the result of its bid to develop shallow-water Block 2 in the North Coast Marine Area. The company declined to bid for deepwater acreage under current terms, but Wilson said he "believes that future investment will demand exploration of these areas" in order to meet the needs of new downstream industries.
