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Petrotrin / NiQuan plant - Mothballed

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 26th, 2024, 5:54 pm

sMASH wrote:
Habit7 wrote:
sMASH wrote:All of a sudden we forget about Vincent Nelson and advising alwaris to drop the suit against Malcom jones.
Then turning around to sue all alwaris.

Screenshot_2024-04-26-11-38-22-023_org.mozilla.firefox.jpg

Cool, so when was Stuart Young Malcolm Jones' lawyer?
I think that was in the privy council documents.

I Remeber seeing it, can't Remeber where exactly.


Deffienty would have posted that many moons ago. It will be wayyyyyy back in one of these threads.

So are mixing up the chronology of your false narrative. First, you said that Petrotrin sold Niquan because it was PNM packed. That was wrong because it was the PP appointed board who sold it
Then you said:
Remember that there was petrotrin/gortt vs Malcom jones
Where faris represented petrotrin/state and Malcom Jones was represented by Stuart young.

Stuart Young represented Jones during the PP, but once he became a minister, he had to stop all private business. So there was no time when Faris was AG and Jones was Stuart's client.

If your memory is bad then don't try to use it to spin a false narrative. Because I think you are remembering UNC propaganda quite fine, it is just that this is the first time you are encountering someone who can refute it.
https://newsday.co.tt/2021/04/26/young- ... ut-niquan/

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 26th, 2024, 8:27 pm

I was being civil.

Find out when is ROI for the Patrick Manning tourba stadium, that cost 1.3bn, and Rowley spend a 300m to complete, Terrance wife get 100m of thst to power wash the roof and it only sees 10 events a year, 7 is only car park for car show, 2 is fete for carnival
IMG_20240426_202231.jpg

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 26th, 2024, 9:31 pm

What does any of this have to do with Niquan?

The Toruba Studium cost $800M https://trinidadexpress.com/news/local/ ... 11388.html
$86,356,723.08 was spent to complete the stadium https://www.wiplayers.com/spanking-new- ... en-in-may/
The original UNC lie was that Imbert's wife power-washed the roof. Ian Alleyne repeated the lie and got fired from CNC3. But Padarath got a FOIA request for all the contractors and Lifetime Roofing Ltd did the cleaning and repair. http://udecott.com/wp-content/uploads/M ... cademy.pdf
The BCLA hosted the CPL finals 2017-2020 and on average earned US$23M per year for the country except for 2020 because of C19 https://newsday.co.tt/2018/01/10/cpl-ge ... 6m-for-tt/

You are like an AI bot whose database is Kick Out the PNM comments section.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 26th, 2024, 10:26 pm

Modis operandi:
Spend a set of money in the capital investment, load up the projects with a set of pnm contractors and board regulars, project underperforms, govt writes it off.

But the goal was not the long term profitability, the goal was the capital investment from the treasury.


Propose one setta pie on the sky for elections, trained seals march Lefffff foot ritttttte foot, financiers eat ah food

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Re: Petrotrin / NiQuan plant - Mothballed

Postby pugboy » April 27th, 2024, 5:20 am

sound like when they buy boats for coast guard etc
big money spent up front

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 27th, 2024, 6:30 am

By passing the statutory board thst have the oversight.
Then pass procurement legislation that makes exceptions to forgovt to govt, or govt to private deals

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 27th, 2024, 6:32 am

They built a pt fortin fire station for 37m, but ur hard pressed to see 5m worth of material and labor

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Mmoney607 » April 27th, 2024, 8:24 am

Habit7 wrote:What does any of this have to do with Niquan?

The Toruba Studium cost $800M https://trinidadexpress.com/news/local/ ... 11388.html
$86,356,723.08 was spent to complete the stadium https://www.wiplayers.com/spanking-new- ... en-in-may/
The original UNC lie was that Imbert's wife power-washed the roof. Ian Alleyne repeated the lie and got fired from CNC3. But Padarath got a FOIA request for all the contractors and Lifetime Roofing Ltd did the cleaning and repair. http://udecott.com/wp-content/uploads/M ... cademy.pdf
The BCLA hosted the CPL finals 2017-2020 and on average earned US$23M per year for the country except for 2020 because of C19 https://newsday.co.tt/2018/01/10/cpl-ge ... 6m-for-tt/

You are like an AI bot whose database is Kick Out the PNM comments section.

Did Trinidad pay cpl for them to host the finals here?

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 27th, 2024, 10:42 am

Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 27th, 2024, 10:45 am

Another failure project... But multiple times.

... But the treasury syphoned
... multiple times too.



One project failed twice, lol.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby wing » April 27th, 2024, 11:17 am

Habit7 wrote:Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.
Matrix sMashing him up in the Gaza thread, so he come back here where he have fellow sycophants to back up.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Mmoney607 » April 27th, 2024, 1:00 pm

Habit7 wrote:Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.

Answer the question

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 27th, 2024, 2:06 pm

Mmoney607 wrote:
Habit7 wrote:Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.

Answer the question

No, stick to the topic.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Mmoney607 » April 27th, 2024, 4:07 pm

Habit7 wrote:
Mmoney607 wrote:
Habit7 wrote:Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.

Answer the question

No, stick to the topic.

That's an answer in itself.
Pnm corruption, mismanagement and incompetence does just spread to every topic

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 27th, 2024, 4:37 pm

Niquan was a double whammy on the treasury by pnm, lol

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Re: Petrotrin / NiQuan plant - Mothballed

Postby bluefete » April 27th, 2024, 8:08 pm

Habit7 wrote:Is it that you all run out of false narratives about Niquan? Because this thread is quickly becoming a UNC grouse thread.


Answer this nah. Is it true or not? You did not answer when I asked it earlier.

NiQuan Energy, LLC began its journey when Ainsley Gill, the Founder and Group Chief Visionary Officer, registered the Company in the United States in 2008. What started as an energy consulting company morphed into something that would truly make a difference in the world.

In 2012, the Company acquired its’ first gas-to-liquids (GTL) plant in the Republic of Trinidad and Tobago. Realizing that GTL, made from the cleanest of the hydrocarbons, could contribute to a cleaner energy future, Ainsley steered the Company towards exclusively becoming an owner / operator in the gas-to-liquids business.

After benefitting from circa US$1 billion in investments, NiQuan is the proud parent of a safely operating, commercially proven, clean energy plant with a nameplate capacity of 2400 barrels per day.
https://www.niquanenergy.com/about-us

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Re: Explosion At Petrotrin / NiQuan Plant

Postby Habit7 » April 27th, 2024, 8:29 pm

Habit7 wrote:
bluefete wrote:
Habit7 wrote:What due diligence? The PP came in and proclaimed the plant as scrap and sold it for a song. Gill got his investors and their expertise and run the plant into the ground. There aren’t much ppl with experience with plants like this esp in this part of the world. Hopefully the mistakes made can be documented so that whoever follows can do better.


Timelines are important here.

The PP never sold the plant!

NiQuan Energy, LLC began its journey when Ainsley Gill, the Founder and Group Chief Visionary Officer, registered the Company in the United States in 2008. What started as an energy consulting company morphed into something that would truly make a difference in the world.

What did Gill know as far back as 2008 when PNM was in office, to set up Niquan Energy USA?

In 2012, the Company acquired its’ first gas-to-liquids (GTL) plant in the Republic of Trinidad and Tobago. Realizing that GTL, made from the cleanest of the hydrocarbons, could contribute to a cleaner energy future, Ainsley steered the Company towards exclusively becoming an owner / operator in the gas-to-liquids business.

Gill is saying in 2012 he ACQUIRED the GTL plant. Check the company's website. Wasn't that under Tantie Kams? But yet, an official sale with money did not happen until 2018.


https://www.niquanenergy.com/about-us

https://www.niquanenergy.com/content/executive-team

After benefitting from circa US$1 billion in investments, NiQuan is the proud parent of a safely operating, commercially proven, clean energy plant with a nameplate capacity of 2400 barrels per day.

Image

Ah tired. I gone.
Habit7 wrote:
sMASH wrote:Try your disinformation else where.
Unc advertised it.

Is Rowley them sold it for CHICKEN FEED.

Pnm does do business like Crak addicts. Screenshot_2024-04-17-14-11-47-749_com.google.android.googlequicksearchbox.jpg

You clearly didn't read the official statement I posted so then let me put it in front of your eyes again.

By letter dated April 16, 2012, to the Receiver, NiQuan Energy LLC submitted a proposal in response to the RFP, and by letter dated July 6, 2012, the Receiver notified NiQuan Energy LLC that it had been selected as a prospective investor. In October 2014, the Petrotrin Board approved the Receiver’s recommendation of NiQuan as the preferred investor.

The Receiver then entered into negotiations with NiQuan on commercial terms for the acquisition of plant. Arising from the negotiations, a price of US$35M comprising an initial payment of US$10M and preference shares to the value of US$25M payable in two (2) equal tranches was proposed. NiQuan reached final agreement on the commercial terms and all other outstanding issues on or about August 5, 2015. The proposal was accepted by the Board of Directors and the
transaction was subsequently sanctioned by the Minister of Finance, (Corporation Sole).

https://www.energy.gov.tt/wp-content/up ... roject.pdf


The sale was only finalised in 2018 because they were still negotiating the price of gas. But the price of the asset was already agreed upon before 7th Sept 2015.

Even if you read the first article in your google search it too commented on an injunction after Niquan being chosen in 2012 https://trinidadexpress.com/opinion/edi ... 3.amp.html


Changing the colour of your font doesn’t make it more right or more intelligent.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby The_Honourable » April 27th, 2024, 11:31 pm

Habit7 wrote:
The_Honourable wrote:So allyuh miss out the part that Niquan took Petrotrin and the Receiver to court in 2013 for the GTL plant? Then legal wranglings for two years, banked on a government change in 2015, months later got an agreement in 2016, then get thru in 2018 where a state company was created to solely service niquan the gas?

No true

Petrotrin selected Niquan in 2012 but was still talking with other ppl. Niquan took them to court so that they only talked to them. Days before PP was voted, their board finalised all the commercial terms for the asset. The only thing PNM had to do was agree with the gas price which I sure they delayed because prices were falling 2015-2017. Everything concluded in 2018.

By letter dated April 16, 2012, to the Receiver, NiQuan Energy LLC submitted a proposal in response to the RFP, and by letter dated July 6, 2012, the Receiver notified NiQuan Energy LLC that it had been selected as a prospective investor. In October 2014, the Petrotrin Board approved the Receiver’s recommendation of NiQuan as the preferred investor.

The Receiver then entered into negotiations with NiQuan on commercial terms for the acquisition of plant. Arising from the negotiations, a price of US$35M comprising an initial payment of US$10M and preference shares to the value of US$25M payable in two (2) equal tranches was proposed. NiQuan reached final agreement on the commercial terms and all other outstanding issues on or about August 5, 2015. The proposal was accepted by the Board of Directors and the
transaction was subsequently sanctioned by the Minister of Finance, (Corporation Sole).

https://www.energy.gov.tt/wp-content/up ... roject.pdf


Not true?

Sounds like what the late guy smiley would pick and choose to put on a ministry website leaving out certain points.

Niquan took the Receiver of World GTL and Petrotrin to Court. Petrotrin did not select Niquan, the Receiver did. Niquan did a proposal that Petrotrin didn't accept. An exclusivity agreement was in place and with rumors of other buyers especially the chinese, Niquan went to Court for an injunction. You curiously left out the part that Niquan LOST said injunction. The Court also found "curious" facts about the background of Niquan. The case is here:

https://webopac.ttlawcourts.org/Library ... ov2013.pdf


Legal wranglings continued for two years (2014-2015). A strict conditional agreement was done due to the fallout of the court matter as Gill badly wanted the plant. PNM won the General Elections on September 7th 2015. Andrew Jupiter appointed as the new Chairman of Petrotrin.


CariCRIS - On May 19, 2016, a Sale and Purchase (SPA) agreement was executed which gave NiQuan Energy Trinidad Limited (NETL) the exclusive rights to purchase all the assets. NETL acquired the GTL5 plant at a cost of US $35 million in June 2018.
(Transfer was completed in July 2018)
https://www.niquanenergy.com/sites/defa ... 202019.pdf



Incorporated on March 28, 2018, "Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL) was created purposely by the Government to enter into the Gas Sales Contract (GSC) with NiQuan."

https://trinidadexpress.com/business/lo ... 932b0.html

Not true?

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Re: Petrotrin / NiQuan plant - Mothballed

Postby screwbash » April 28th, 2024, 3:57 am

didnt niquan try to illegally seize some people land up the north coast or something. god dont sleep. one day it does all fall down.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby bluefete » April 28th, 2024, 6:00 am

screwbash wrote:didnt niquan try to illegally seize some people land up the north coast or something. god dont sleep. one day it does all fall down.


bluefete wrote:Real Talk With Saieed Ali
April 6, 2021
·
Wealthy businessman Ainsley Gill and his wife are now on the radar of T&T Police Service for alleged land grabbing, fraud and collusion after Minister of Agriculture, Land and Fisheries Clarence Rambharat wrote to Commissioner of Police Gary Griffith early last month about sprawling beachfront property owned by the State at Damian Bay the businessman is now claiming as his own after removing several occupants who were living there for decades and allegedly demolishing their homes.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby pugboy » April 28th, 2024, 9:48 am

a colourful character

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Re: Petrotrin / NiQuan plant - Mothballed

Postby The_Honourable » April 28th, 2024, 12:01 pm

NiQuan founder going after Government

With the mothball of the NiQuan plant scheduled to begin this week and the hearing on the wind-up action listed for Friday, the company’s founder Ainsley Gill is now focusing his efforts on suing the Government.

Last week, the company terminated its 75 employees pending the wind-up action which will appoint a liquidator if successful.

NiQuan owes investors and contractors hundreds of millions of dollars, with exposure to several financial institutions in the country, including sums outstanding from legal judgments of about US$400 million.

Gill, in an email to all staff, said the company did not get the financial support it expected from its financiers and investors.

However, the Sunday Guardian understands Gill is now focused on suing the state through a bilateral investment treaty claim.

NiQuan is a subsidiary of NiQuan Energy LLC, a United States-registered limited liability company.

Gill is reportedly basing this defence on what he describes as the “‘favourable” outcome from mediation between the company and the Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL) at the International Criminal Court (ICC), delivered by Lord Neuberger of Abottsbury on January 24, 2024.

Abottsbury had said the gas agreement was not terminated and that TTUDEOCL was obliged to supply gas to the plant.

On January 23, 2024, TTUDEOCL’s attorneys said they did not accept that the contract had not been terminated and that it had an obligation to supply gas in accordance with that contract.

But Gill has been using that preliminary “favourable” outcome to keep hope alive in the plant to investors, and has been using it in his legal defences.

To this end, Gill has said that NiQuan is now proceeding with its claims against TTUDEOCL under ICC Arbitration rules for significant loss, cost and damage for breach of contract, as opposed to specific performance of the gas supply contract.

In his defence, filed against former Niquan vice president David Small’s wind-up action, Gill had disclosed that in parallel with the ICC arbitration proceedings, NiQuan and its parent entity, NiQuan Energy LLC, would also be pursuing its claim against the Government under International Centre for the Settlement of Investment Disputes (ICSID) arbitration rules for breach by the Government of the extant Bilateral Investment Treaty between Trinidad and Tobago and the United States.

“These parallel legal proceedings are supported by NiQuan’s lead financial arranger and noteholders, shareholders and other stakeholders. In the interim, the NiQuan gas-to-liquids (GTL) plant is under preservation of assets in silent mode. Further, the earlier legal proceedings initiated by NiQuan in the Trinidad courts seeking injunctive and declaratory reliefs against TTUDEOCL and the GORTT to compel the provision of the contracted guaranteed gas supply for NiQuan’s GTL plant to restart operations have been discontinued,” he had said in the court documents.

In an email to staff last week, Gill said the company had run out of money keeping the plant operational.

“Further, it is likely that a winding-up order will be made by the High Court pursuant to a winding-up petition brought against the company by two unsecured creditors. The next hearing is before the court is scheduled for the 3rd May, 2024. As a result of this, pending appointment of a liquidator by the court, the company is unable to extend the current furlough past the date of the 30th of April 2024. Therefore, at 5 pm on the 30th of April 2024, your Contract of Employment will be terminated and the Company will issue individual formal termination letters,” Gill said.

Employees have been furloughed since September 2023, after the plant was shut down following the death of Massy Energy employee Allanlane Ramkissoon on June 15, 2023, and the termination of the gas supply contract by the TTUDEOCL over a US$21 million debt.

Employees had told Guardian Media that their National Insurance (NIS) payments and Pay As You Earn (PAYE) were also not paid up to date by the company but were deducted from their salaries. In addition, NiQuan did not make contributions to their pension plan, which was part of their employment package with the Guardian Group.

Employees still don’t know who will ultimately be held responsible for this breach of duty.

NiQuan’s collateral agent, Republic Bank, argued that an order to wind up the company could jeopardise the initiative to the detriment of secured and unsecured creditors.

In making its case to the court, Republic Bank argued that should the company become operational, Small would be repaid.

On November 7, 2023, Republic Bank, along with other noteholders, passed a resolution to appoint a steering committee among noteholders to establish a plan for the now defunct plant moving forward.

To this end, the steering committee has engaged PricewaterhouseCoopers to develop a plan to rehabilitate the company, with a view to starting operations to settle its obligations to its various creditor groups.

https://www.guardian.co.tt/news/niquan- ... 90e0226104

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 28th, 2024, 12:27 pm

Pnm financier sue pnm govt, get Vincent Nelson to declare it unwinnable. He treasury pay the financier, pnm eat ah food going and coming

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Re: Petrotrin / NiQuan plant - Mothballed

Postby The_Honourable » April 28th, 2024, 12:59 pm

Imagine to circumvent NGC, pnm created a state company TTUDEOCL in 2018 for the sole purpose of servicing Niquan with gas. 5 years later this state company is over US$21M in debt (USD22,275,711 - July 2023) and may stand to lose much more because of breach of contract.

By the way... that US$25M preference shares that Petrotrin have in niquan, it's worthless now?

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Re: Petrotrin / NiQuan plant - Mothballed

Postby sMASH » April 28th, 2024, 2:57 pm

The country don't have no gyass but pnm want to run plant.


Steups

sMASH wrote:because even when that platform starts to produce, it will not have enough gas to supply it.

all the plants running on knife edge wrt full rates. there is no extra gas.

the deal with tringen 1 to produce hydrgen, i did some research and it will be using the natgas, cracking it, but this time, extracting the hydrogen from it. not sure if they gonna make a product and pull the excess h2, but that will not be in any significant quantities to be economically viable, so its gonna be a hyrdogen producing reformer process.

any how, the gas that they find WILL have to go to meet the obligations of other plants. lng tr1 is already not a effective producer.
so, if they hadda sacrifice one plant, it will be that one.






i wasnt saying that they SHOULD keep tr1 down.

they WHOLE arguement was, not to fund the whole TAR, when u have no gas to run the plant to recoup that money.

it would hav ebeen more feasible to just moth ball the plant, then do the TAR with only 10% of the cost, just in time to get gas and run the plant and make back that money.

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Re: Petrotrin / NiQuan plant - Mothballed

Postby pugboy » April 28th, 2024, 2:58 pm

how a man like john andrews of bp get chain up so?

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Re: Petrotrin / NiQuan plant - Mothballed

Postby bluefete » April 28th, 2024, 7:39 pm

I don't know why Habit7 tryng to defend this ish!

This Gill fellow has some gall. So IF Gill is telling the truth, TTUDOCL was supposed to continue giving him gas for FREE even though he already owed over US$21 million?

Plus NIS, PAYE, Health Surcharge and Pension deductions were made from employees and never remitted to BIR and GG.

Skullman extraordinaire.


"However, the Sunday Guardian understands Gill is now focused on suing the state through a bilateral investment treaty claim.

NiQuan is a subsidiary of NiQuan Energy LLC, a United States-registered limited liability company.

Gill is reportedly basing this defence on what he describes as the “‘favourable” outcome from mediation between the company and the Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL) at the International Criminal Court (ICC), delivered by Lord Neuberger of Abottsbury on January 24, 2024.

Abottsbury had said the gas agreement was not terminated and that TTUDEOCL was obliged to supply gas to the plant.

On January 23, 2024, TTUDEOCL’s attorneys said they did not accept that the contract had not been terminated and that it had an obligation to supply gas in accordance with that contract.

But Gill has been using that preliminary “favourable” outcome to keep hope alive in the plant to investors, and has been using it in his legal defences.

To this end, Gill has said that NiQuan is now proceeding with its claims against TTUDEOCL under ICC Arbitration rules for significant loss, cost and damage for breach of contract, as opposed to specific performance of the gas supply contract.

Employees had told Guardian Media that their National Insurance (NIS) payments and Pay As You Earn (PAYE) were also not paid up to date by the company but were deducted from their salaries. In addition, NiQuan did not make contributions to their pension plan, which was part of their employment package with the Guardian Group."

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Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 29th, 2024, 9:59 am

The_Honourable wrote:
Habit7 wrote:
The_Honourable wrote:So allyuh miss out the part that Niquan took Petrotrin and the Receiver to court in 2013 for the GTL plant? Then legal wranglings for two years, banked on a government change in 2015, months later got an agreement in 2016, then get thru in 2018 where a state company was created to solely service niquan the gas?

No true

Petrotrin selected Niquan in 2012 but was still talking with other ppl. Niquan took them to court so that they only talked to them. Days before PP was voted, their board finalised all the commercial terms for the asset. The only thing PNM had to do was agree with the gas price which I sure they delayed because prices were falling 2015-2017. Everything concluded in 2018.

By letter dated April 16, 2012, to the Receiver, NiQuan Energy LLC submitted a proposal in response to the RFP, and by letter dated July 6, 2012, the Receiver notified NiQuan Energy LLC that it had been selected as a prospective investor. In October 2014, the Petrotrin Board approved the Receiver’s recommendation of NiQuan as the preferred investor.

The Receiver then entered into negotiations with NiQuan on commercial terms for the acquisition of plant. Arising from the negotiations, a price of US$35M comprising an initial payment of US$10M and preference shares to the value of US$25M payable in two (2) equal tranches was proposed. NiQuan reached final agreement on the commercial terms and all other outstanding issues on or about August 5, 2015. The proposal was accepted by the Board of Directors and the
transaction was subsequently sanctioned by the Minister of Finance, (Corporation Sole).

https://www.energy.gov.tt/wp-content/up ... roject.pdf


Not true?

Sounds like what the late guy smiley would pick and choose to put on a ministry website leaving out certain points.
This was a parliamentary statement read to the Lower House

Niquan took the Receiver of World GTL and Petrotrin to Court. Petrotrin did not select Niquan, the Receiver did. Niquan did a proposal that Petrotrin didn't accept. An exclusivity agreement was in place and with rumors of other buyers especially the chinese, Niquan went to Court for an injunction. You curiously left out the part that Niquan LOST said injunction. The Court also found "curious" facts about the background of Niquan. The case is here:
The receiver would have chosen Niquan based on Petrotrin requirements and on October 2014 the Petrotrin board approved the receivers choice

https://webopac.ttlawcourts.org/Library ... ov2013.pdf


Legal wranglings continued for two years (2014-2015). A strict conditional agreement was done due to the fallout of the court matter as Gill badly wanted the plant. PNM won the General Elections on September 7th 2015. Andrew Jupiter appointed as the new Chairman of Petrotrin. Who cares what Gill wanted? He won the proposal that was judged by PWC and the PP board accepted. There was no turning back unless the govt were to be sued again. It didn't matter who won the elections on Sept 7th 2015, he had a rightful expectation of completing the transaction.


CariCRIS - On May 19, 2016, a Sale and Purchase (SPA) agreement was executed which gave NiQuan Energy Trinidad Limited (NETL) the exclusive rights to purchase all the assets. NETL acquired the GTL5 plant at a cost of US $35 million in June 2018.
(Transfer was completed in July 2018)
https://www.niquanenergy.com/sites/defa ... 202019.pdf
What happened in 2016 and 2018 had its genesis in 2012. Nobody wake up one morning and hand GTL plant to Niquan.



Incorporated on March 28, 2018, "Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL) was created purposely by the Government to enter into the Gas Sales Contract (GSC) with NiQuan."

https://trinidadexpress.com/business/lo ... 932b0.html

Not true?

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Habit7
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Posts: 12156
Joined: April 20th, 2009, 10:20 pm

Re: Petrotrin / NiQuan plant - Mothballed

Postby Habit7 » April 29th, 2024, 10:12 am

The_Honourable wrote:Imagine to circumvent NGC, pnm created a state company TTUDEOCL in 2018 for the sole purpose of servicing Niquan with gas. 5 years later this state company is over US$21M in debt (USD22,275,711 - July 2023) and may stand to lose much more because of breach of contract.

By the way... that US$25M preference shares that Petrotrin have in niquan, it's worthless now?

Nobody trying to circumvent NGC. It is normal practice around the world for govts to create special purpose companies for the execution of projects. This is done to ringfence the govt bigger company from liabilities and influence. So in the case of Niquan not being able to pay their gas bill, that debt is not being carried by the blue-chip company NGC but by this special purpose company (SPC) that can focus on pursuing the debt and not entangle NGC. The same thing was done for Dragon Gas and Sandals.

The UNC just throws out that info to confuse the public but they won't talk about EFCL a SPC that builds and maintains schools that they left in crippling debt and the PNM had to close down. If it wasn't a SPC, the Min of Education would have been burdened with lawsuits. Plus EMBD, a SPC which was supposed to prepare Caroni lands for distribution but was a den of corruption that has Dr Moonilal implicated in a civil matter right now.

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zoom rader
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Re: Petrotrin / NiQuan plant - Mothballed

Postby zoom rader » April 29th, 2024, 10:14 am

bluefete wrote:I don't know why Habit7 tryng to defend this ish!

This Gill fellow has some gall. So IF Gill is telling the truth, TTUDOCL was supposed to continue giving him gas for FREE even though he already owed over US$21 million?

Plus NIS, PAYE, Health Surcharge and Pension deductions were made from employees and never remitted to BIR and GG.

Skullman extraordinaire.


"However, the Sunday Guardian understands Gill is now focused on suing the state through a bilateral investment treaty claim.

NiQuan is a subsidiary of NiQuan Energy LLC, a United States-registered limited liability company.

Gill is reportedly basing this defence on what he describes as the “‘favourable” outcome from mediation between the company and the Trinidad and Tobago Upstream Downstream Energy Operations Company Ltd (TTUDEOCL) at the International Criminal Court (ICC), delivered by Lord Neuberger of Abottsbury on January 24, 2024.

Abottsbury had said the gas agreement was not terminated and that TTUDEOCL was obliged to supply gas to the plant.

On January 23, 2024, TTUDEOCL’s attorneys said they did not accept that the contract had not been terminated and that it had an obligation to supply gas in accordance with that contract.

But Gill has been using that preliminary “favourable” outcome to keep hope alive in the plant to investors, and has been using it in his legal defences.

To this end, Gill has said that NiQuan is now proceeding with its claims against TTUDEOCL under ICC Arbitration rules for significant loss, cost and damage for breach of contract, as opposed to specific performance of the gas supply contract.

Employees had told Guardian Media that their National Insurance (NIS) payments and Pay As You Earn (PAYE) were also not paid up to date by the company but were deducted from their salaries. In addition, NiQuan did not make contributions to their pension plan, which was part of their employment package with the Guardian Group."
Habit7 has to defend, he's a paid PNM blogger.

Can't blame him, if trinidad is filled stupid people that pretend to be African on emancipation day & election day .

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