Page 23 - PNM General Election 2020 Manifesto

• TPHL/Heritage successfully refinanced a
$US850M (TT$5.8B) Bond taken out by
Petrotrin, which was due for repayment in
August 2019, without a Government
guarantee
• Paria Trading Company, another new
subsidiary, successfully supplied the local
market without any disruption in the
availability of fuel and returned a profit of
TTS100M in its first year
• Ensured uninterrupted supply of LPG and
Bitumen to the local market
• Government accepted an offer from Patriotic RENEWABLE ENERGY
Energies, a company wholly owned by the
OWTU, for the sale and purchase of the 130MW Renewable Energy Solar projects, on a
Pointe-a-Pierre Refinery Build, Own, and Operate Basis, awarded to a
consortium of Lightsource Bp, BPTT and Shell to
build two solar energy plants with a capital
LATEST GAS RESERVES AUDITS investment of US$123 Million (TT$835M) – will
satisfy our commitment to the Paris Agreement.
The 2017 and 2018 Ryder Scott Audits showed an
increase in T&T’s gas reserves, after decreases
from 2014 to 2016, creating investor confidence

ENERGY DIPLOMACY AND INTERNATIONAL
AGREEMENTS

• Venezuela: Trinidad and Tobago and
Venezuela reached an agreement 2019 to
cancel the Unitization agreement and to
separately develop the reserves in each
country
• Barbados: A MOU was signed with Barbados
to collaborate on energy exploration matters.
• Guyana: An MOU was signed with Guyana to
cooperate in the energy sector
• Ghana: Agreement was reached with Ghana
for further cooperation in the energy sector

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PNM THE RIGHT CHOICE ON AUGUST 10 People’s National Movement Manifesto 2020