Trinidad and Tobago-focused exploration and production company, Trinity E&P, is looking into developing new energy projects to enable the energy transition, including powering oil projects with renewable energy, deploying micro LNG solutions, and pursuing stranded gas assets.
Trinity said on Thursday that it has signed a memorandum of understating (MOU) with The National Gas Company of Trinidad and Tobago (NGC) to explore and develop new projects to enable energy transition in Trinidad and, potentially, in the wider Caribbean and Latin America.
NGC has been in operation for over 45 years and is strategically positioned in the upstream and midstream of the natural gas value-chain in Trinidad and Tobago.
Its core business activities involve the aggregation, purchase, compression, transmission, sale and distribution of natural gas to industrial and commercial users.
It also has non-operated interests in upstream producing assets, both oil and gas.
This collaborative initiative is part of Trinity’s and NGC’s wider growth strategies; aiming to derive further value from existing licences, to establish a broader portfolio of energy assets via acquisition and partnerships, and to challenge and further reduce carbon output.
The MOU covers a range of development opportunities including a Micro Liquefied Natural Gas (micro LNG) business which encompasses potential synergies along the Gas Value Chain including potential opportunities for Compressed Natural Gas (CNG) in Trinidad and Tobago, the broader Caribbean and Latin America region.
Furthermore, the MOU covers renewable energy opportunities, inclusive of a wind power generation project, to provide renewable electric power, including some of Trinity’s operations.
Finally, the MOU includes the pursuit of stranded gas assets and associated opportunities in existing Trinity assets; and pursuit of other mutually beneficial business opportunities.
“As the world continues its energy transition journey, these value-added initiatives will contribute towards maximising the benefits from Trinidad and Tobago’s natural resources. Furthermore, this supports Trinidad and Tobago’s ambitions towards lowering GHG emissions in line with best practice and the Paris Accord”, Trinity explained.
Bruce Dingwall CBE, Executive Chairman of Trinity, commented: “Our traditional core onshore and offshore production assets provide a strong foundation for growth, but this partnership with the NGC potentially introduces new ways of operating, powering and monetising those assets which are truly exciting.
“This partnership is expected to be a great ‘enabler’ to Trinity becoming a new type of energy business which is at the forefront of the energy transition agenda”.
Mark Loquan , NGC President, commented: “This signing is indeed a significant one as it provides the NGC Group, and ultimately the people of Trinidad and Tobago, with an avenue to accelerate energy efficiency and renewable energy within the country”.
According to Trinity, it has been working for some time to reduce the environmental impact of its operations, having established its baseline for emissions in 2017.
The company has been embarking on an abatement plan during 2020 to ensure that it becomes a more efficient and cleaner business and is on course to roll out further operational automation initiatives in 2021.
Key onshore and offshore wells are being automated (driving efficiency and reducing energy intensity) and the acceleration of applied analytics, transition technologies and automation across the wider portfolio will further work towards its Environmental Social and Governance (ESG) objectives, Trinity concluded.