STUART YOUNG'S POST
The restructuring of Atlantic LNG was the vision and policy of the PNM in 2018 and we set about a difficult and complex task of negotiating with bp and Shell for five years until its completion in December 2023.
What we achieved with the restructuring of ALNG was unprecedented globally. It had never been done anywhere else in the world up to that point in time.
These reports from December 2023 record exactly what we said the benefits to Trinidad and Tobago would be back in 2023 - higher revenue for NGC and Trinidad and Tobago via higher gas prices, a new 10% shareholding across the whole of ALNG (where TT only had shareholding in Trains 1 and 4 before) and importantly via NGC getting an increased number of LNG cargos to sell.
Today, in 2026, exactly as we intended and fought hard to achieve, Trinidad and Tobago is benefitting, especially via NGC, from increased revenues as a direct result of the work that we did and completed in December 2023.
Do not be fooled by those who are in office now trying to mislead you and claim that increased revenues by NGC and the State from the energy sector are due to their policies or decisions. In fact, their actions are destroying the energy sector as you have seen with the departure of Nutrien and Methanex.
The gas prices we negotiated from 2019 and in ALNG are why NGC and TT are earning higher revenues today as we pegged our gas prices on Asian gas prices, European gas prices and Brent Oil prices. The Asian and European gas prices have been ten times higher than the gas price we would have gotten if we did not negotiate these new prices. So that is what is responsible for NGC and TT’s higher revenues not the incompetence of those who are currently in charge.
Lastly, I ask, why has NGC stopped supporting the wider development of our country by cancelling its sponsorship of national track and field, steelband, and other nation building initiatives?
So the ‘winning’ of higher and better revenue at NGC and in TT lies here as you can see in these receipts, in the PNM’s vision, hard work and achievements for all of Trinidad and Tobago.
In continued service,
Stuart R. Young, SC, MP
August 20, 2026
