Moderator: 3ne2nr Mods
This sounds about right. It's all about bussiness , the downstreamers crying foul play and using it's employees to get away with cheap gas.jhonnieblue wrote:No it's simple really. A lot of plants on the estate up for negotiation of renewal of gas contracts. Cnc is one of them that was operating on short term gas contracts. Ngc is pushing for higher gas prices that would make commodities uncompetitive on the international market compared to areas that have low cost shale gas. Really it's about the cost of gas that these companies need to operate at and then given Daily contracted quantities that could be supplied. It seem NGC favors ga to lng over downstream and as such cnc became another victim. m1 and m2 suffer the same fate already. Prob more plants to come as gas reserves fall and upstream companies esp bp favors their investments of Atlantic to get preferred gas supply.
sMASH wrote:our wages in the engergy sector,,, at least for grunts, not for managers, are like quarter to half of what the other guys who moved away to other countries, like arabian peninsula, australia and america.
and apart from petrotrin, the locals work and work hard, generally. some people may be slackers, but for the most part, they do what they are paid to do, and many go above and beyond.
that is as far as my personal experience would afford.
Accurate.vaiostation wrote:So CNC dropping all the blame on NGC, just like when de germz blame NGC for the methanol plants shutting down.
It have a lot more that goes on behind the scenes. NGC just don't wake up one day an close a valve and say F everybody...
But leave it to cnc3 to tell only one side of the story. Similar to what they do with petrotrin...
Journalistic integrity at its finest...
vct17inch wrote:Accurate.vaiostation wrote:So CNC dropping all the blame on NGC, just like when de germz blame NGC for the methanol plants shutting down.
It have a lot more that goes on behind the scenes. NGC just don't wake up one day an close a valve and say F everybody...
But leave it to cnc3 to tell only one side of the story. Similar to what they do with petrotrin...
Journalistic integrity at its finest...
Miktay wrote:Allyuh ever wonder why all those forin plants in Pt. Lisas are there? I mean they could operate anywhere in teh world with cheap gas. Why T&T?
One thing iz relative stability of the gubbament. But the main reason Iz cuz of the gas. Cheap cheap gas. The gas contracts are in most cases a T&T state secret.
So the minute NGC raise the prices it no longer becomes economical to operate in sweet T&T.
Hence the exodus.
Gerry Brooks, Chairman, The National Gas Company of Trinidad and Tobago (NGC): Interview
How is the Natural Gas Master Plan 2014-24 significant for the future of T&T’s energy sector?
GERRY BROOKS: In the context of a rapidly changing global energy landscape, domestic gas production shortfalls and major upstream and downstream agreements due for renewal in the next three years, the emergence of the master plan is timely. The plan takes a fresh look at the trend lines around domestic gas availability, allocation between local consumption and exports, netbacks to the country and downstream development. T&T’s annual gas demand is currently around 4.2bn standard cu feet (scf); 1.7bn-1.8bn scf is consumed domestically and the balance is exported. With production shortfalls during the past five years, combined with depleting reservoirs, a project like BP T&T’s Juniper is significant but, by itself, will not allow us to significantly shift our production curve.
Within the context of the master plan, the industry is looking at our upstream work programme to make sure the exploration and drilling activity can meet and exceed T&T’s demand requirements over the next five to seven years. Cross-border gas development, deepwater drilling – which is projected to bring gas on-line by 2024 – and work around the country’s approximately 50 shallow-water marginal fields, will inevitably play a major role in this process.
What initiatives could improve the level of internationalisation in T&T’s gas industry?
BROOKS: The industry is more aggressively pursuing opportunities both regionally and globally to improve our investment portfolio and reduce earnings volatility. Regionally, our technical and pipeline capabilities can help jurisdictions like Guyana, Barbados and Suriname to monetise their resources, review their seismic programmes and put the right infrastructure in place. Moreover, we are looking at cross-border gas fields with Venezuela, including the Dragon Field and the whole Mariscal basin, Loran-Manatee, Kapok-Doran, and Manakin-Cocuina. T&T has recently formed technical and commercial working groups with Venezuela to guide us on the next steps. Dragon is estimated to have between 2.4trn scf and 4.3trn scf of gas. Because of the already concluded technical work, proximity to infrastructure and the will of the parties, we are working on a three-year horizon to develop the field. This could set the framework for monetisation of larger fields like Loran-Manatee.
T&T has also re-energised its interest in Ghana. Since 2010 Ghana’s energy sector has grown and has the potential to develop further with the right partnerships. There are several opportunities we have specifically identified. The first involves processing gas from their Jubilee, TEN Area and Offshore Cape Three Points fields. In addition, our companies are planning to partner on the maintenance and expansion of Ghana’s only gas processing facility in Atuabo, while looking at the introduction of a cryogenic facility to improve its efficiency. A second possible partnership involves the construction of a 275-km pipeline taking gas from Takoradi to Tema.
Are there opportunities to develop new businesses within the national gas value chain?
BROOKS: NGC is actively supporting exploration and production developments and is itself prepared to expand its upstream business to secure and grow the local natural gas industry.
Through the National Energy Corporation of Trinidad and Tobago (National Energy), T&T is exploring downstream ventures that can replicate the success stories of methanol and ammonia. Beyond our recent investments in dimethyl ether, for instance, we are now looking at dimethyl carbonate. Other key downstream areas that National Energy is considering are plastics and aluminium, as well as alternative energy projects. To this end, different models of foreign direct investment participation can be explored.
zoom rader wrote:Well this situation the government is looking for more money and CNC looking for a cheap deal .
CNC is a bunch of fvckers to use workers as pawns . Workers are already not paid on the world scale.
In this case I support the government
zoom rader wrote:Well this situation the government is looking for more money and CNC looking for a cheap deal .
CNC is a bunch of fvckers to use workers as pawns . Workers are already not paid on the world scale.
In this case I support the government
Dizzy28 wrote:zoom rader wrote:Well this situation the government is looking for more money and CNC looking for a cheap deal .
CNC is a bunch of fvckers to use workers as pawns . Workers are already not paid on the world scale.
In this case I support the government
Why should workers be paid the same as globally?
Dizzy28 wrote:Because part of the unique value prop of Trinidad apart from has gas price would be labour cost in relation to countries with higher labour costs.
Allergic2BunnyEars wrote:Dizzy28 wrote:Because part of the unique value prop of Trinidad apart from has gas price would be labour cost in relation to countries with higher labour costs.
What makes the labour cost lower here?
Allergic2BunnyEars wrote:Dizzy28 wrote:zoom rader wrote:Well this situation the government is looking for more money and CNC looking for a cheap deal .
CNC is a bunch of fvckers to use workers as pawns . Workers are already not paid on the world scale.
In this case I support the government
Why should workers be paid the same as globally?
Why should they not be paid the same as globally?
Caribbean Nitrogen Company (CNC) which has stopped operations after the National Gas Company (NGC) cut off its gas supply due to contractual issues, is lashing out against NGC's chairman Gerry Brooks, accusing him of heavy-handed tactics towards them.
In a statement issued Thursday afternoon, CNC's Chief Executive Officer, Jerome Dookie, accuses Brooks of negatively affecting the livelihoods of over 400 workers.
The following is CNC's statement.
"In response to recent claims about National Gas Company of Trinidad and Tobago (NGC) margins and profits from Chairman Gerry Brooks, Caribbean Nitrogen Company (CNC) has called for an independent auditor to examine the relationship between the two companies and produce an unbiased picture of the value chain in the interest of all stakeholders.
“It’s time for the NGC to be transparent and stop hiding behind vague statements that don’t have any basis in reality,” said Jerome Dookie, CEO of CNC.
“We do not agree with Mr. Brooks’ position and completely reject his statements that accuse CNC of having unreasonable expectations, double digit returns and the potential for billions of dollars of losses for the NGC.”
“The NGC continues to make misleading statements to the people of Trinidad and Tobago about its actions and its finances claiming that it is not prepared to be subject to independent scrutiny. Even though NGC is in effect owned by the people of Trinidad and Tobago, Mr. Brooks’ precipitously heavy-handed tactics have just negatively affected the livelihood of more than 400 people, thereby threatening to wreak further havoc on the economy of the country”.
CNC said it would be willing to would work with Poten Partners or another third party and subject their company to an independent audit to show the relative returns each member of the value chain is earning. CNC believes that downstream companies such as themselves have always had the lowest returns on equity, and therefore NGC’s benefit is far more than they claim from their high prices, certainly significantly above international pricing for a gas transport pipeline company.
Contrary to popular belief, CNC receives no subsidies from NGC or the government, and in fact pays a premium over other providers in North America. The company is only looking for a fair rate that allows it to remain competitive in the market, and executives say that higher rates mean less money to invest back into the local economy.
“How can you invite us to the table and cut off our gas at the same time? We have been negotiating in good faith to resolve this situation, and we have already come to the table willing to compromise. We will not be taken advantage of and accept terms and pricing that would result in CNC running its operations for a disproportionate part of an agreement at a significant loss,” said Mr. Dookie."
Return to “Ole talk and more Ole talk”
Users browsing this forum: No registered users and 84 guests