NGC sanctions Aphrodite project with Shell; acquires EOG Resources volumes
What happened
The National Gas Company of Trinidad and Tobago (NGC) completed negotiations with Shell regarding the Aphrodite project, which has now been sanctioned with first gas expected in the second quarter of 2027. Additionally, NGC signed a term sheet to acquire 100% of EOG Resources’ gas volumes, adding 300 bcf of gas to NGC’s supply. The government of Trinidad and Tobago also announced plans to expand the Point Lisas Industrial Estate by 500 acres.
From trinidadexpress.com
Why it matters
The acquisition of EOG Resources volumes and the sanctioning of the Aphrodite project increase the national gas supply in Trinidad and Tobago. Furthermore, the government’s expansion of the industrial estate is intended to encourage downstream industry growth and attract foreign investment.
From trinidadexpress.com
Who's involved
- Gerald RamdeenAnnounced the completion of negotiations and the industrial estate expansion.
- ShellCompleted negotiations with NGC for the Aphrodite project.
- EOG ResourcesSold 100% of its gas volumes to NGC.
- Trinidad and TobagoJurisdiction where the industrial estate expansion and gas supply increase are occurring.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Trinidad and TobagoSpeculative
The increased national gas supply and industrial estate expansion could boost investment and downstream industry operations.
- ShellSpeculative
The successful completion of the Aphrodite negotiations might affect Shell’s future production targets.
- EOG ResourcesSpeculative
The loss of 100% of its volumes to NGC could impact EOG Resources’ control over its gas supply.
Keep exploring
The entities involved
-
Shell
British multinational oil and gas company
-
EOG Resources
American oil and natural gas company