Trinidad and Tobago Prime Minister Dr The Honourable Keith Rowley and Minister of Energy and Energy Industries The Honourable Stuart Young met with representatives from bp, Shell and the National Gas Company (NGC) in London on December 5 to formally mark the completion of all contractual agreements for the restructuring of Atlantic LNG.
The shareholders and the Government have agreed to a new ownership structure and to a new commercial framework for the company.
Highlights of the new structure:
bpTT president David Campbell: “bp welcomes the new structure for Atlantic LNG which has come as a result of close collaboration with all stakeholders. The new structure will benefit both the Government of Trinidad and Tobago as well as Atlantic’s shareholders. For bp, the new structure sets a strong foundation for future investment in T&T’s energy industry, including the deepwater. I wish to recognise Dr. The Honourable Keith Rowley Prime Minister of Trinidad and Tobago, and The Honourable Stuart Young M.P., Minister of Energy and Energy Industries, for their personal stewardship of these complex negotiations.”
EVP G&LCE Anja-Isabel Dotzenrath: “I congratulate the Government of Trinidad and Tobago, my colleagues at bpTT and fellow shareholders on concluding negotiations for the restructuring of Atlantic LNG. T&T is an excellent example of meeting the world’s developing energy needs and the new structure for Atlantic will help to maintain momentum in the country's energy sector.”