Government Restructures Atlantic LNG for Economic Strength, Trinidad and Tobago

Energy Minister Stuart Young has lauded the Government’s decision to restructure Atlantic LNG (ALNG), emphasizing its positive impact on Trinidad and Tobago’s economy. Young defended the move against claims of selling out domestic natural resources by the opposition UNC, stating that the restructuring was a unique and strategic achievement. The agreement, finalized last December, remains confidential due to industry standards but promises improved terms for trains two, three, and four. The restructuring, set to take effect in October, includes enhanced shareholding for the National Gas Company (NGC) and aims to secure the company’s future viability. Young highlighted the negotiations’ success in securing better pricing and access to third-party gas while extending ALNG’s operational lifespan. He emphasized the Government’s commitment to safeguarding the country’s energy sector for future generations, asserting confidence in the restructured ALNG’s long-term sustainability.