Explosion at Petrotrin / NiQuan plant

[zoom rader]

no amount of book or lectures in a university hall does TEACH u dat. that is just pure contact hours in the industry, u will get to understand how process plants go.

dem fellas like they never buy an ole car as a first car or project. every ting is either roro or firm.

These will be the clowns running investigations for the red government then they will cover it up .

But those in industry will know better, its the red government people that wil be fooled by the BS that is about to come

[wing]

NiQuan gets greenlight to restart plant

Asha Javeed

Jun 21, 2022 Updated Jun 21, 2022

FOURTEEN months after an explosion took place at NiQuan’s Gas-to-Liquids (GTL) plant located on the refinery compound at Pointe-a-Pierre, steps are now being taken to restart the plant.

In April, NiQuan was given limited approval by the Ministry of Energy to reintroduce natural gas to the facility.

During Prime Minister’s Question Time on June 13, Dr Rowley was asked a question on the restart of the plant by Pointe-a-Pierre MP David Lee.

Rowley said: “On April 14, NiQuan was given approval by the Ministry of Energy for the reintroduction of natural gas to the facility for the primary purpose of lighting the flare pilot burners and producing medium pressure steam utilising the auxiliary boilers for cleaning lines following the shutdown of the facility post incident on April 7, 2021.

“Approval was also given by the Ministry of Energy for introduction of fuel gas only for the reformer burners for conducting refractory dry out.

“NiQuan Energy Trinidad Limited by letter dated June 1, 2022 to the Ministry of Energy Re: Request approval for entry of process gas for front-end start up (reformer to suction of synthesis gas compressor) has requested approval to start commissioning activities.

“This request is for one stage of the process, from the reformer to the suction of the synthesis gas compressor. This activity includes:

1. Gas pre-treatment (desulphurisation)

2. Steam/methane reforming

3. Reformed gas waste heat recovery

4. The CO2 compressor and recycle system.

“On receipt of this approval from the Ministry of Energy, the duration of the commissioning is expected to take about one month to compete with approval requested in stages from the ministry. Approval for commencing entry of process gas has not been granted by the Ministry of Energy to date,” the Prime Minister had said.

To date, an investigation by the Ministry of Energy is yet to be completed into the circumstances surrounding the explosion.

Thus far, only a preliminary report dated April 14, 2021 and an interim report dated June 1, 2021 were produced.

NiQuan was formally opened on March 9 and the explosion occured one month later.

Following the explosion, NiQuan had said that the plant’s hydrocracker system failed during an attempted startup.

Meanwhile, while the Ministry of Energy’s investigation proceeds, the fire services gave NiQuan the all-clear to re-enter the plant several months ago.

The company is about three years late in getting off the ground.

It had originally expected to start production in December 2019.

In a statement to the Express last December, NiQuan said it set a new target date for the first quarter of 2022.

The company said it has been working assiduously with its contractors and is well advanced to complete all necessary safety processes items according to Hazard and Operability Analysis (HAZOP) and Layers of Protection Analysis (LOPA) standards, in preparation for the restart of the GTL Plant.

“Once all safety measures have been implemented and accepted by NiQuan’s engineer of record, the plant will be brought back up to full commercial operation producing at a nameplate capacity of 2,400 barrels per day. The target date for that accomplishment is now set for 1st quarter 2022,” the statement said.

“As NiQuan completes required works and begins to re-start the plant, the Ministry of Energy will issue provisional approvals on a step-by-step basis––from the company bringing gas onto site, to lighting the boiler, through the reformer, FT Reactors, all the way to storage of product in the NiQuan tanks with final approval only being provided after the plant is fully up and running.

“For example, when NiQuan needed approval for the reintroduction of natural gas to the boiler to carry out steam cleaning of various vessels and piping just after the incident, the Company provided documents and received the appropriate approval,” it said.

It had noted that products generated and salvaged by the plant prior to the blowout incident of April 7, 2021 had been independently certified by a reputable environment testing laboratory, Bio Research Laboratory (BRL).

“Their finding is that NiQuan’s paraffinic GTL Diesel is 100 per cent biodegradable and non-toxic, and has the same properties as a gas-to-liquid (GTL) synthetic non-aqueous base fluid (NABF) which is used for drilling muds in deep-sea drilling. This BRL certification puts NiQuan’s GTL products amongst the best in their class, and at a 100 per cent environmentally friendly level,” the company said.

[De Dragon]

NiQuan gets greenlight to restart plant

Asha Javeed

Jun 21, 2022 Updated Jun 21, 2022

FOURTEEN months after an explosion took place at NiQuan’s Gas-to-Liquids (GTL) plant located on the refinery compound at Pointe-a-Pierre, steps are now being taken to restart the plant.

In April, NiQuan was given limited approval by the Ministry of Energy to reintroduce natural gas to the facility.

During Prime Minister’s Question Time on June 13, Dr Rowley was asked a question on the restart of the plant by Pointe-a-Pierre MP David Lee.

Rowley said: “On April 14, NiQuan was given approval by the Ministry of Energy for the reintroduction of natural gas to the facility for the primary purpose of lighting the flare pilot burners and producing medium pressure steam utilising the auxiliary boilers for cleaning lines following the shutdown of the facility post incident on April 7, 2021.

“Approval was also given by the Ministry of Energy for introduction of fuel gas only for the reformer burners for conducting refractory dry out.

“NiQuan Energy Trinidad Limited by letter dated June 1, 2022 to the Ministry of Energy Re: Request approval for entry of process gas for front-end start up (reformer to suction of synthesis gas compressor) has requested approval to start commissioning activities.

“This request is for one stage of the process, from the reformer to the suction of the synthesis gas compressor. This activity includes:

1. Gas pre-treatment (desulphurisation)

2. Steam/methane reforming

3. Reformed gas waste heat recovery

4. The CO2 compressor and recycle system.

“On receipt of this approval from the Ministry of Energy, the duration of the commissioning is expected to take about one month to compete with approval requested in stages from the ministry. Approval for commencing entry of process gas has not been granted by the Ministry of Energy to date,” the Prime Minister had said.

To date, an investigation by the Ministry of Energy is yet to be completed into the circumstances surrounding the explosion.

Thus far, only a preliminary report dated April 14, 2021 and an interim report dated June 1, 2021 were produced.

NiQuan was formally opened on March 9 and the explosion occured one month later.

Following the explosion, NiQuan had said that the plant’s hydrocracker system failed during an attempted startup.

Meanwhile, while the Ministry of Energy’s investigation proceeds, the fire services gave NiQuan the all-clear to re-enter the plant several months ago.

The company is about three years late in getting off the ground.

It had originally expected to start production in December 2019.

In a statement to the Express last December, NiQuan said it set a new target date for the first quarter of 2022.

The company said it has been working assiduously with its contractors and is well advanced to complete all necessary safety processes items according to Hazard and Operability Analysis (HAZOP) and Layers of Protection Analysis (LOPA) standards, in preparation for the restart of the GTL Plant.

“Once all safety measures have been implemented and accepted by NiQuan’s engineer of record, the plant will be brought back up to full commercial operation producing at a nameplate capacity of 2,400 barrels per day. The target date for that accomplishment is now set for 1st quarter 2022,” the statement said.

“As NiQuan completes required works and begins to re-start the plant, the Ministry of Energy will issue provisional approvals on a step-by-step basis––from the company bringing gas onto site, to lighting the boiler, through the reformer, FT Reactors, all the way to storage of product in the NiQuan tanks with final approval only being provided after the plant is fully up and running.

“For example, when NiQuan needed approval for the reintroduction of natural gas to the boiler to carry out steam cleaning of various vessels and piping just after the incident, the Company provided documents and received the appropriate approval,” it said.

It had noted that products generated and salvaged by the plant prior to the blowout incident of April 7, 2021 had been independently certified by a reputable environment testing laboratory, Bio Research Laboratory (BRL).

“Their finding is that NiQuan’s paraffinic GTL Diesel is 100 per cent biodegradable and non-toxic, and has the same properties as a gas-to-liquid (GTL) synthetic non-aqueous base fluid (NABF) which is used for drilling muds in deep-sea drilling. This BRL certification puts NiQuan’s GTL products amongst the best in their class, and at a 100 per cent environmentally friendly level,” the company said.

Where is the report on the cause of the explosion?
Wasn't that report required before approval to restart?
Is Ainsley Gill, JUHN Scarfy's partner and fellow law breaker, getting a free pass?
Reformed Gas production uses the majority of the natural gas. Refractory dry out requires minimal gas usage. CO2 injection is for enhanced PRODUCT generation. This is another example of sheit being done without due diligence. Maybe when someone dies, (but then again there was Paria), they will learn.

[sMASH]

What is the latest with niquan wgtl?

[Val]

What is the latest with niquan wgtl?

they are operational, why?

[sMASH]

What is the latest with niquan wgtl?

they are operational, why?

Progress report.

At 100%? Reduced? Or 110% design?

Is the product locally sold, foreign market, or mixed.

Are they steady up?


What going on?????

[Country_Bookie]

NiQuan struggling with US$250m debt




NiQuan Energy Trinidad Limited’’s gas-to-liquids (GTL) plant in Pointe-a-Pierre

Courtesy NiQuan Energy

by Asha Javeed

Lead Editor Investigations

asha.javeed@guardian.co.tt

NiQuan Energy is facing a cash crunch challenge.

As it stands, the company has more than US$250 million (TT$1.7 billion) in debt and it is struggling to meet payments to the tune of millions owed to contractors, including Junior Sammy and Massy Energy Engineered Solutions Limited (MEES).

While in some instances it has been able to work out payment plans, like with T&T Upstream Downstream Energy Operations Company Limited (TTUDEOCL), a special purpose company in the Ministry of Energy and Energy Industries set up to negotiate its gas agreement, other contractors told the Sunday Guardian they are still awaiting payments.

NiQuan was set to refinance its bonds to the tune of US$300 million (TT$2 billion) by July 31 but the accident at its plant on June 15, which led to the death of 35-year-old pipe fitter Allanlane Ramkissoon, set it back.

The company’s founder and chief visionary officer Ainsley Gill has been holding talks with financiers and updating investors in an effort to raise sums, even short-term from high worth investors, as it was able to do before after the April 2021 accident.

Gill, a former US-based lobbyist in Washington DC under the Manning administration, bought and invested in the abandoned plant with the goal to turn it into the Western Hemisphere’s first gas-to-liquids plant.


The company has been holding talks with financiers and updating investors in an effort to raise sums, even short-term, from high net investors, as it was able to do before after the April 2021 accident.

A report done by regional rating agency, CariCRIS in March noted that at December 2022, NiQuan’s total debt stood at US$218.7 million, a 416.6 per cent increase from 2018 and is projected to further increase to US$312 million as at December 2023.

“In our view, this has reduced the Company’s financial flexibility and this, alongside delayed payments to TTUDEOCL, has resulted in our lowering of the cash flow adequacy and financial flexibility rating parameter of NiQuan Energy,” CariCRIS said.

Local investors

To fund its operations, NiQuan raised money on the international bond market, loans and sums from local investors.


Local investors, according to the company’s filings dated June 5, 2023 include:

1. Banks- Republic Bank Limited and RBC Trust (Trinidad and Tobago) Limited,

2. Insurance company -Beacon Insurance Company,

3. Investment companies- Firstline Securities, Prime Capital Limited, JMMB Securities Limited, Waterloo Capital Advisors, KCL Capital Market Brokers Limited, Inshallah Investments.

4. Firms - Farm Chem Engineering Management Limited, GM Homes Limited, M&J Services Limited, Central Finance Facility Cooperative Society of Trinidad and Tobago Limited, Petrotrin and Washington DC registered, Niquan Energy LLC (the company’s largest shareholder-10,702,216 ordinary shares)


5. Individual investors which include Niquan’s board members and former permanent secretary in the Ministry of Finance, Alison Lewis, Nicholas Galt and Niquan’s chairman John Andrews.

While some investors are concerned about whether they will be repaid, others have expressed confidence in Gill’s ability to make NiQuan’s gas to liquids plant successful and reward its investors.

NiQuan has had five extensions to repay its first bond. The company met with challenges trying to get the plant, which at one point was relegated to scrap metal, up and operational. Those challenges were exacerbated by the COVID-19 pandemic.

Natural gas challenge

For the company to access insurance money of US$94 million from the first accident in April 2021, it has to show that it has been producing product - ideally up to 2,640 barrels per day (bpd) for a consistent four-month period.


While it has produced small amounts for onward sale to Paria Trading it hasn’t yet reached that capacity. Following the first accident, it only received approval from the MEEI in September 2022 to restart.

One of its challenges has been its inability to secure a steady supply of natural gas.

NiQuan’s contract with the TTUDEOCL is for 31 million standard cubic feet per day (mmscf/d) or less than one per cent (approximately 0.8 per cent) of T&T’s daily gas supply. TTUDEOCL sources natural gas from the National Gas Company (NGC).

Industry sources told the Sunday Guardian that NiQuan owed TTUDEOCL significant sums and because of that debt, gas was stopped at the plant. In turn, TTUDEOCL owes more than US$10 million to the NGC.

While a payment plan was agreed for NiQuan to pay TTUDECOL, the company is still challenged for natural gas.


At present, four plants on the Point Lisas Industrial Estate are down as a result of a natural gas shortage in the country following a safety incident at Woodside Energy. Neither the MEEI nor the NGC can say when the issue will be resolved.

The Sunday Guardian was told that NiQuan is considering legal action against the MEEI for their contracted gas.

An industry source explained that the company is in a challenging position as if it does not get gas, it can’t operate and push the plant for production. Further, the company’s cash strapped position makes it inflexible to continue operating until it gets injections.

Raising money

CariCRIS noted that if NiQuan was not able to achieve optimal production by June 30, it would affect its ability to refinance the existing notes or obtain approval for a further extension by noteholders by July 31.


The inability to achieve certification of full nameplate capacity of 2,400 barrels per day “adversely impacted the Company’s ability to secure timely refinancing.”

“While an extension by noteholders was granted resulting in a revised maturity date of December 2022, the Company is currently awaiting approvals from its senior secured noteholders to further extend the short-term note instrument (STNI) to the end of July 2023; its fifth consecutive extension in refinancing. The continuous delays in refinancing which includes the capitalisation of interest and consent fees, have resulted in an increasing level of debt year-on-year (y-o-y) since 2018. As a result, the Company is now seeking to issue a ten-year US$300 million bond by July 2023, up from US$200 million previously, thereby negatively impacting its financial risk profile as key projected debt servicing metrics weakened from our last report,” the report said.

CariCRIS said two of the company’s key risks were “consistently high and rising debt levels over the past few years thus constraining financial flexibility and reecurrent operational challenges resulting in the inability of the GTL plant to achieve nameplate capacity at 2,400 bpd in a timely manner.”

“These operational challenges hindered NETL’s ability to collect revenue and make required timely payments for its gas supply and debt obligations as planned,” it said.

NiQuan’s response


The Sunday Guardian sent questions to Niquan on July 21 and on July 29.

On behalf of NiQuan, Alfred Aguiton, chairman of Ample said: “NiQuan Energy Trinidad Limited remains committed to being as transparent as is legally permissible and commercially sensible, but regrettably is unable to divulge information on confidential corporate financial matters per your submission today (Fri 21/7/23).

“NiQuan welcomes the interest of the Media—and vicariously the general public—in all its operations, but is required to observe applicable confidentiality, contractual and legal boundaries on such disclosure.

https://www.guardian.co.tt/news/niquan- ... edd08c865b

[Val]

What is the latest with niquan wgtl?

they are operational, why?

Progress report.

At 100%? Reduced? Or 110% design?

Is the product locally sold, foreign market, or mixed.

Are they steady up?


What going on?????

As far as I know, they've never been producing steadily.

[The_Honourable]

NiQuan, the startup that stalled

... investors at risk of losing hundreds of millions, jobs on the line



The future of NiQuan’s gas-to-liquids (GTL) plant located on the compound of mothballed Petrotrin refinery at Pointe-a-Pierre is uncertain unless it can raise money—to the tune of hundreds of millions—to pay off its debts (the most urgent being for natural gas), and re-engage either the Trinidad and Tobago Upstream Downstream Company (TTUDEOCL) or the National Gas Company (NGC) for another contract.

The plant has no contract for natural gas, no permission to operate from the Ministry of Energy and Energy Industries (MEEI), and is now offline.

NiQuan’s creditors—local and international—are at the risk of losing hundreds of millions and jobs are on the line.

Last week, NiQuan’s chairman John Andrews leveraged his credibility and asked the Government to uphold the “sanctity of contract,” referring to the gas sales contract, which was terminated last month.

This week, the Sunday Guardian examines what unfolded over the past three years from public information available from investors, rating agencies, and court filings, including several letters in which the special purpose company set up to supply natural gas to NiQuan called on it to pay for gas supplied.

Lead Editor Investigations

asha.javeed@guardian.co.tt

On paper, NiQuan was a neat prospect—an innovative plant producing clean fuel, the bulk of infrastructure already built out, and in a country where it can access natural gas to supply it.

In reality, it struggled with technical issues and cash flow constraints that impeded its ability to immediately address and erase operational challenges.

Its misfortunes were multiplied by the pandemic and two major incidents on its compound–an explosion in April 2021 and the June 15 accident which subsequently led to the death of a contractor, Allanlane Ramkissoon.

And what was once a key selling point to investors–a 15-year natural gas supply contract and a take-or-pay product offtake agreement with Paria Fuel Trading Company–has been scuttled.

But why and how did the startup stall? Essentially, NiQuan was financially hamstrung.

First, it was not well capitalised. NiQuan ran on capital it raised from bonds and to date, it has had five extensions from its bondholders which are due.

But it lacked cash flow and the ability to generate it–money to purchase new equipment to replace faulty ones and money to pay for bills incurred especially to the TTUDECOL for natural gas, where that debt is over US$21 million. The company was also subject to curtailment issues which has affected the downstream sector.

Furthermore, it was unable to meet its own deadlines set for a Lenders Reliability Test (LRT)—to demonstrate to the project financiers that the plant could operate for 72 hours uninterrupted and produce a capacity of 2,400 barrels a day–and an effective Commercial Operations Date (COD).

The LRT and the COD were critical to NiQuan.

The LRT would have allowed NiQuan to go back to its lenders to refinance its existing debt. On March 16, 2023 rating agency CariCRIS noted that if NiQuan was not able to achieve optimal production by June 30, 2023, it would affect its ability to refinance the existing notes or obtain approval for a further extension by noteholders by July 31, 2023.

It noted that the inability to achieve certification of the full nameplate capacity of 2,400 barrels per day “adversely impacted the company’s ability to secure timely refinancing.”

As for the COD, Clause 2.7 of NiQuan’s contract with TTUDECOL noted that if the COD was not attained six months after NiQuan advised, the company still had to pay TTUDEOCL for 90 per cent of the Daily Contracted Quantity.

In a statement by Andrews, the chairman of NiQuan, last week, the company said it did not breach its financial commitments to the TTUDEOCL.

“NiQuan is not in breach of its financial contractual obligations with its gas supplier. The NiQuan contract stipulates that payments are not due to its supplier until the plant achieves the Commercial Operations Date. Factually, NiQuan made numerous attempts to arrive at an amicable resolution, but were eventually constrained to seek remedies, some of which are currently before the courts and therefore beyond further comment,” the statement said.

NiQuan’s legal battle with the State was premised on the sanctity of a contract.

When it filed its appeal of the judgment in its attempt to get an injunction compelling the resumption of natural gas supplies, NiQuan told the Sunday Guardian that, “NiQuan’s account with Trinidad and Tobago Upstream Downstream Energy Operations Company Limited (“UD”) was fully paid up to the April 6, 2023. All other amounts claimed by UD are either not due and payable or otherwise in dispute.”

Neither NiQuan nor TTUDECOL stated how much was paid in April.

Timeline to termination

A review of documents shows that NiQuan has broken commitments to its project and has been habitually delinquent in repaying sums owed to TTUDEOCL for natural gas delivered to it.

* On September 5, 2019, NiQuan advised TTUDEOCL that its reasonable estimate of the pre-start-up date was April 27, 2020, its initial delivery date was July 30, 2020, with its COD at August 30, 2020.

* By February 2021, it said that once full nameplate production had been reached and stabilised, it would conduct the LRT after which commercial operations would be declared.

“As we had informed you, that would trigger the onset of our ability to treat with the invoicing matters you had raised,” a letter from its founder and chief visionary officer Ainsley Gill had said.

Based on publicly filed court documents, here is now the interchange between NiQuan’s Gill and TTUDEOCL’s former chairman Richard Jeremie unfolded:

* On April 14, 2021, TTUDEOCL made NiQuan aware that despite the April 7, 2021 accident that occurred at the plant, it was financially obligated to meet its bills;

* On April 29, 2021, NiQuan proposed a payment plan to TTUDEOCL which it accepted;

* On May 24, 2021, TTUDEOCL wrote to NiQuan explaining that its “fervent efforts” to secure the 3MMscf/d of gas from State-owned National Gas Company (NGC) were “rendered feeble and ineffective” because it has been unable to pay our supplier (NGC) for the gas that was supplied from July 2020 through March 2021;

* On May 25, 2021, NiQuan assured that it would pay, but indicated it was experiencing temporary cash flow constraints. NiQuan noted that it was raising financing from JMMB who received “ irrevocable instructions to make that payment direct to TTUDEOCL from the proceeds of the financing expected”. At this time, NiQuan noted that it would not require gas until July 2021 for the purpose of re-starting the commissioning and ramping up the Plant to attain LRT and full commercial production in August 2021;

* On July 1, 2021, TTUDEOCL wrote to NiQuan on non-payment of invoices. “Given NiQuan’s position and our subsequent negotiations where you provided a firm commitment to make payments by June 30, 2021, TTUDEOCL requested and received an extension of time to make payments to the NGC on or before June 30, 2021. TTUDEOCL specifically advised you that in the context of a prolonged non-payment of invoices, NGC was considering all options available to it including termination of the contract,” Jeremie wrote. At that point, TTUDEOCL issued a notice of dispute to NiQuan.

* On July 15, 2021, NiQuan wrote to TTUDEOCL that it received approval from Republic Bank Ltd and all of the noteholders invested under its current senior secured short-term note instrument (the “Bridge Facility”), to upsize the principal amount and to extend the repayment date to March 31, 2022.

Gill noted that investors were categorically only prepared to disburse funds for the specific purpose–the cost of repairs to the blown-out Hydrocracker Stripper Column and to implement all other plant turnaround and safety features to attain LRT and COD.

As such, Gill requested a moratorium until the attainment of LRT and COD in a few months’ time. “However, we would reiterate that the moratorium is required urgently because unless we have it, funding will not be provided for the completion of the repairs, turnaround, commissioning, and attainment of LRT and COD. Delays in funds, of course, have a direct impact on the schedule for attaining LRT and COD, and ultimately the ability of NiQuan to meet its payment obligations to TTUDEOCL and NiQuan’s many other vendors and contractors,” he said;

* On July 22, 2021, Jeremie wrote to Gill explaining that TTUDEOCL was “perplexed” by NiQuan’s letter “in which there seems to be a casual revocation by NiQuan to meet its commitment to pay TTUDEOCL for the gas supplied during the last twelve (12) months”.

“It is not the intention of the Gas Sales Contract that NiQuan (the Buyer) can take an unfettered number of years to achieve commercial operations of the GTL plant without making any payments for the gas received,” said Jeremie. He said that TTUDEOCL is unable to agree to a moratorium;

* On August 12, 2021, TTUDEOCL wrote again to NiQuan seeking payment. “We are certain that you would appreciate that there is a limit to the accommodation that TTUDEOCL can continue to offer to NiQuan at this time, as we have a responsibility to act in the best interest of our company, and of our shareholder, the Government of the Republic of Trinidad and Tobago,” it said.

* On August 23, 2021, NiQuan said that it would make payments due on September 30 and October 30, 2021, respectively. At that time Gill advised that COD was now the end of October 2021;

* On October 2, 2021, NiQuan said COD was pushed back to December 15, 2021;

* On December 1, 2021, TTUDEOCL noted that payments were due and allowances were made for the delay. “Failure by NiQuan to make the second and third payments in full as agreed is a breach of our Letter Agreement,” it said.

* On March 7, 2022, NiQuan noted that the LRT and COD would occur by the end of April 2022 and would generate money for the company;

* On May 25, 2022, natural gas returned to the plant;

* On August 17, 2022, TTUDEOCL wrote to NiQuan and gave notice of a force majeure event which, "as we have been advised by our suppliers, is the falling of network pressures resulting in shortages in gas supply;"

* On August 18, 2022, TTUDEOCL sent a notice of late payment to NiQuan. “From a commercial perspective, there is a limit to the clemency for NiQuan that can be accommodated by TTU DEOCL, as this company must satisfy its own financial obligations to its suppliers,” it said;

* By August 19, 2022, NiQuan said its attention and resources are focused on attaining LRT and COD by the end of August 2022;

*On September 2, 2022, TTUDEOCL told NiQuan that arrangements are being made to facilitate it with the requisite volumes of gas to attain its LRT and COD starting from September 1 2, 2022;

* On October 10, 2022, NiQuan noted that it was late on its payments but that curtailment was affecting the plant;

* On October 1 8, 2022, TTUDEOCL again called on NiQuan to pay its bills. “TTUDEOCL is unfairly being asked to await the LRT and achievement of the COD for payment when such a position was not taken in negotiating the terms of the Letter Agreement,” it said;

* On November 23, 2022, TTUDEOCL informed NiQuan that its request for gas to perform LRT while taking gas below the required 27.4mmscf/d was becoming disruptive to the NGC operations to supply gas to its customers.

“Further, the NGC Control room has requested that the daily gas requirement be made at least 24 hours in advance. This has not been followed by NiQuan in the last weeks. TTUDEOCL is hereby requesting that NiQuan provide gas information as requested. In addition, an update on the start of the LRT is urgently needed. As pointed out in my last email to you, continued delays in the performance of the LRT and non-payment of outstanding monies owed may result in TTUDEOCL gas supplier taking action,” Jeremie said;

* On December 7, 2022, NiQuan said the LRT would be completed on December 19, 2022, and requested a grace period to pay bills due;

* On January 6, 2023, TTUDEOCL told NiQuan that NGC cannot make any commitments at this time as they are currently under curtailment. “As you are aware, TTUDEOCL/NGC have made best efforts to facilitate NiQuan’s LRT in the past and it has not happened,” Jeremie said;

* On January 16, 2023, NiQuan paid US$1,100,000 to TTUDEOCL. “At current we are only receiving 5 mmscf/d, and as a consequence, this continues to impact attainment of LRT and sustained production hence our commercial viability is at serious risk. We really need TTUDEOCL to source the requisite amount of gas 24.7 mmscf/d, hopefully today so that we can immediately go back into production, achieve LRT and COD,” Gill said.

* On February 13, 2023, NiQuan achieved LRT but at reduced production rates (45 per cent of the nameplate capacity).

“We are expecting to increase the production rates to around 70 per cent in the next three weeks and maintain that production until we receive and install four new specialist membranes to the Plant’s Prism Section, which are in order from the USA and expected in July 2023, at such time we will be able to attain 100 per cent of the nameplate and the COD,” Gill said.

* On June 15, 2023, an accident occurred at NiQuan’s plant which subsequently led to the death of a contractor at the plant.

* On July 10, 2023, eight invoices totalling US$14,727,137.45 for gas supplied to NiQuan under the subject Contract (“the Contract”) for the period May to December 2022 were issued to NiQuan on April 5, 2023, and three invoices totalling US$4,470,687.10 for gas supplied to NiQuan under the subject Contract for the period January 2023 to March 2023 were issued to NiQuan on May 11, 2023. Notices of Late Payment were issued to Niquan on May 19, 2023, and June 1, 2023. The company was informed that if payment was not made in 30 days, the contract would be terminated.

* On August 7, 2023, NiQuan made a request for a commercial supply of gas from TTUDEOCL with a commencement date of August 8, 2023.

* On August 14, 2023, TTUDEOCL terminated the contract with NiQuan.” NiQuan has materially breached the Contract and has failed to remedy that breach within thirty (30) days of our 10th July 2023 notice. In these circumstances, please be advised that pursuant to Article 13.1 (b) of the Contract, we hereby terminate the Contract with immediate effect,” the company said.

* On August 15, NiQuan sought injunctive relief in the courts.

* On August 21, Justice Kevin Ramcharan denied NiQuan an injunction to compel the State to supply natural gas to the plant. NiQuan has since appealed the matter.

https://www.guardian.co.tt/news/niquan- ... fb176a8ca2

[pugboy]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

[zoom rader]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

[wing]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

We should have let the yellow mess opposition sell it for scrap.

[zoom rader]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

We should have let the yellow mess opposition sell it for scrap.

Nothing to do with the plant itself and its still standing.

Red mis government made a total mess of it as they did with Petrotrin, trinitopec, trimar, trintomar Issott, NGC, Tanteak and I can go on and on. Most of these companies u probably never heard off.

U little boys know very little of square pegs in round holes by the red mis government.

So u should hush lil kant and learn

[pugboy]

plenty ppl watching this niquan to see how it play out
plenty money jumping up, from foreign investors

[wing]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

We should have let the yellow mess opposition sell it for scrap.

Nothing to do with the plant itself and its still standing.

Red mis government made a total mess of it as they did with Petrotrin, trinitopec, trimar, trintomar Issott, NGC, Tanteak and I can go on and on. Most of these companies u probably never heard off.

U little boys know very little of square pegs in round holes by the red mis government.

So u should hush lil kant and learn

I mis kickstart.

[The_Honourable]

Moves to get Gill out of NiQuan

Financiers in bid to change company’s management



In a bid to salvage the NiQuan’s Gas to Liquids (GTL) plant which went offline in August, financiers are trying to change the company’s management.

The Sunday Guardian understands that financiers are trying to remove founder and chief visionary officer Ainsley Gill from the helm of the project given the termination of the natural gas contract with the Trinidad and Tobago Upstream Downstream Company Limited (TTUDECOL) which has rendered the plant purposeless.

Financiers told the Sunday Guardian it was Gill’s decision to seek an injunction against TTUDECOL for the supply of natural gas as opposed to seeking out arbitration which signalled a breaking point for the project.

Gill is the largest shareholder of the company.

But financiers, who have pumped hundreds of millions into the project, believe that Gill’s legal battles with former executives have cost the company from a reputational perspective. Last week, former independent senator David Small, a former vice president for NiQuan Energy, was awarded $20,647,017 million for breach of contract for monies owed to him during his employment and in 2021, Eberhard Lucke, former vice president of Process Engineering and Technology sued the company in the Harris County court in Texas, for sums owed to him–US$368,793.

On January 6, 2022, he won his matter and was awarded US$435,000 by the court, but to date, NiQuan has only paid 45 per cent of the sums owed to Lucke.

As it stands, the company’s legal challenges come amid financial problems plaguing the company which has close to US$300 million in debt, and it has gone offline as a result of no permission to operate from the Ministry of Energy and Energy Industries (MEEI) and no natural gas contract in place.

A report done by regional rating agency CariCRIS last March noted that in December 2022, NiQuan’s total debt stood at US $218.7 million, a 416.6 per cent increase from 2018 and is projected to further increase to US $312 million as at December 2023.

“In our view, this has reduced the Company’s financial flexibility and this, alongside delayed payments to TTUDECOL, has resulted in our lowering of the cash flow adequacy and financial flexibility rating parameter of NiQuan Energy,” it said.

To get Gill out of the project, NiQuan’s noteholders have to agree to such a move.

NiQuan was set to refinance its bonds for US$300 million (TT$2 billion) by July 31 but the accident at its plant on June 15, which subsequently resulted in the death of 35-year-old pipe fitter Allanlane Ramkissoon, set it back.

The company has been unable to refinance its facility and interest on the debt has been accruing.

NiQuan owes hundreds of millions to financiers in T&T—among them banks, credit unions and investment companies. Even the Government, through Petrotrin, has preference shares in NiQuan.

NiQuan raised money on the international bond market, loans and sums from local investors which include Republic Bank Limited, RBC Trust (Trinidad and Tobago) Limited, Beacon Insurance Company, Firstline Securities, Prime Capital Limited, JMMB Securities Limited, Waterloo Capital Advisors, KCL Capital Market Brokers Limited, Inshallah Investments, Farm Chem Engineering  Management Limited, GM Homes Limited, M&J Services Limited, Central Finance Facility Cooperative Society of Trinidad and Tobago Limited, Petrotrin and Washington DC registered, NiQuan Energy LLC.

NiQuan has had five extensions to repay its first bond as it met with challenges trying to get the plant, which at one point was relegated to scrap metal, up and operational. Those challenges were exacerbated by the COVID-19 pandemic.

With weeks passing since the plant went offline the company’s future is uncertain unless it can raise money–to the tune of hundreds of millions–to pay off its debts (the most urgent being for natural gas) and re-engage either TTUDECOL  or the National Gas Company (NGC) for another contract.

Gill did not respond to questions sent to him.

NiQuan declined to comment to the Sunday Guardian.

However, the company has appealed Justice Kevin Ramcharan’s August 21 decision which denied NiQuan an injunction to compel the State to supply natural gas to the plant.

On September 22, NiQuan’s chairman John Andrews, in a newspaper advertisement, asked the Government to uphold the “sanctity of contract” even though no contract exists between the company and the State.

The directors of NiQuan Energy Trinidad Ltd, as of the company’s 2022 annual return, stamped on August 15, 2022, are Andrews, Alison Lewis, Nicholas Galt, Larry Felix and Gill.

https://www.guardian.co.tt/news/moves-t ... ff1479568a

[paid_influencer]

plenty ppl watching this niquan to see how it play out
plenty money jumping up, from foreign investors

NiQuan owes hundreds of millions to financiers in T&T—among them banks, credit unions and investment companies. Even the Government, through Petrotrin, has preference shares in NiQuan.

well this could be bad

[sMASH]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

We should have let the yellow mess opposition sell it for scrap.

Nothing to do with the plant itself and its still standing.

Red mis government made a total mess of it as they did with Petrotrin, trinitopec, trimar, trintomar Issott, NGC, Tanteak and I can go on and on. Most of these companies u probably never heard off.

U little boys know very little of square pegs in round holes by the red mis government.

So u should hush lil kant and learn

How much more money will Rowley waste?

[zoom rader]

so all the talk that the niquan chap was a pnm boy turning out not to be so

niquan have some big name directors like john andrew’s ex bp

Doh get tie up , red mis government still pulling the strings.

Those guys are there only in name. Expect alot of square pegs in round holes and under qualified staff.

We should have let the yellow mess opposition sell it for scrap.

Nothing to do with the plant itself and its still standing.

Red mis government made a total mess of it as they did with Petrotrin, trinitopec, trimar, trintomar Issott, NGC, Tanteak and I can go on and on. Most of these companies u probably never heard off.

U little boys know very little of square pegs in round holes by the red mis government.

So u should hush lil kant and learn

How much more money will Rowley waste?

That's NIS investments they use and come to tell you , u only claiming benefits while 200000 not paying. So raise pension age to 65.

Yet still a lot of Jack arses don't understand this.

Stupid country filled with Stupid ppl.

[The_Honourable]

NiQuan workers sent home as money dries up

NiQuan’s founder and chief visionary officer Ainsley Gill has written to bankers, noteholders and financiers saying that if the Gas to Liquids (GTL) plant does not get urgent funding it will be forced “to cease operations and send home all employees”. The company has more than 70 workers.

Employees told the Sunday Guardian that they have been furloughed until November and have not been paid their August and September salaries and are concerned whether they will be paid for October.

They also expressed concern that their National Insurance (NIS) payments and Pay As You Earn (PAYE) are not paid up to date by the company but were deducted from their salaries.

Employees shared an email with the Sunday Guardian in which they queried the matter with the Human Resources team.

“The company has, and always has had, every intention to pay and resolve this matter fully with the Inland Revenue and The National Insurance Board and has been liaising with them continuously. For information, in no way would any employee be personally held responsible to settle any shortfalls owing Inland Revenue, that onus is on the company through the PAYE system as are incurred penalties,” a letter signed by HR to all employees stated.

The letter noted that the outstanding debt was supposed to be settled on the attainment of the Commercial Operations Date (COD) which has not yet been achieved.

“As a direct result of not obtaining COD and other plant issues since 2021, the company has been instructed by its lenders on what the company can utilise their funding for, and cannot use their funding for anything other than what is approved. They are also fully aware of the situation. We now have legal claims against Upstream Downstream and the GORTT, which was never expected, and which could take some time to resolve, so we do not have date certainty to provide at this time.

“Once the legal cases are resolved and damages are obtained, then the company will pay the full amounts owed to the Inland Revenue and The National Insurance Board to resolve the matter,” the letter said.

Employees told the Sunday Guardian that some have sought legal advice on the matter. Last week, they said,  the company held a virtual meeting with staff and “was actually encouraging us to seek employment”.

“They just told us and gave us personal letters, we had no choice,” one employee said.

In a letter dated September 21, 2023, Gill wrote to noteholders explaining: “The company has tried to raise new equity funding through a recent cash call to shareholders with limited success. We are therefore compelled to give notice that absent funding of the budgeted amount, regretfully and sadly NiQuan will within the coming week be forced to cease all operations and send home all employees.

“Further, stemming from NiQuan Founding Chairman, John Andrews statement in the media and the positive feedback, Mr Andrews will be reaching out directly to the Prime Minister for an urgent meeting next week to discuss with a view towards a resolution.”

In his letter, Gill explained that the plant was now in “silent mode” and that funds were needed for “certain necessary and critical payments which must be made now including monthly insurance premiums to avoid cancellation of the OCIP Insurances and physical security for the plant”.

He said that critical payments include salaries, overdue electricity charges to avoid disconnection by T&TEC, procurement of certain consumables to maintain the catalysts and other vital parts of the plant and payment of judgment debts to avoid commencement of enforcement action by creditors, including the continuation of a winding up petition lodged by Southern Supplies Limited and which had been stayed while certain instalment payments were being made to them.

He said that the three-month budget needed immediately was US$2,576,575. Of this amount, the insurance of US$483,399 which is due and the physical security vendor cost of US$200,000 are mandatory for all regulated energy plants.

The Sunday Guardian understands that the 21-day stay on the $20 million judgment in favour of former vice president David Small has passed and his lawyers have written to NiQuan demanding full payment or they will seek to wind up the company.

NiQuan declined to comment to the Sunday Guardian.

Legal battles ahead

In his letter to noteholders, Gill said NiQuan had held discussions with the Trinidad and Tobago Upstream Downstream Company (TTUDEOCL) and would agree to negotiate another contract if US$10 million of the US$21 million debt was paid upfront.

The Sunday Guardian understands that while NiQuan has sought to engage the Government informally, there has been no meeting between the Government and NiQuan because it is a commercial contract between NiQuan and TTUDEOCL.

The Sunday Guardian understands that to date, NiQuan has made no payment to TTUDEOCL.

Furthermore, the company has not yet been given clearance by the Ministry of Energy and Energy Industries (MEEI) to restart operations following the June 15 accident at the plant which subsequently led to the death of 35-year-old pipe fitter Allanlane Ramkissoon.

Gill told noteholders that NiQuan’s Board and executives have been trying to seek an amicable resolution with the Government.

He said that “failing a fair and reasonable and commercially viable compromise” being reached with TTUDEOCL, NiQuan would pursue different legal strategies: (1) the Appeal for the mandatory injunction against UD and declaration against GORTT, (2) the filing of a Request for ICC Mediation, and (3) the commencement of the substantive claim under ICC Arbitration”.

He said that the appeal on Justice Kevin Ramcharan’s August 21 decision which denied NiQuan an injunction to compel the State to supply natural gas to the plant was filed on August 29 and NiQuan’s written submissions settled by Stuart Isaacs, KC, were submitted on September 19. He expects the matter to be heard by early November.

“Alternatively, if NiQuan does not get gas back to the plant, NiQuan will pursue all legal recourse and claim for damages and loss profits from which proceeds to all Noteholder will be paid, albeit a bit more protracted over 18–24 months. NiQuan and its legal advisers are of the view that it has a strong case,” he said.

He noted that NiQuan is currently awaiting clearance from the MEEI pending the completion of their investigation.

“NiQuan expects that the investigation would be given priority for completion, given the importance of the incident and high public interest. Based on the MEEI investigation outcome, it is anticipated that NiQuan would be notified of any start-up dependent actions and given an opportunity to address the same,” he said.

He blamed the Government for where NiQuan presently stands.

“One could not have expected that the GORTT would renege on its Cabinet decision and undertaking to ensure that the plant received a guaranteed supply of gas from the Minister’s Share/Government Natural Gas, though UD, that was not subject to availability, curtailment of use of reasonable endeavours. The NiQuan suite of project agreements are clear and unequivocal, and the gas sales contract is what all investors relied on to make their investment, and it is the jewel in the crown that creates the value for all,” he said.

Management change

Meanwhile, in a bid to salvage the investment, financiers have been trying to move Gill from the helm of the project. However, Gill is the largest shareholder of the company.

But financiers, who have pumped hundreds of millions into the project, believe that Gill’s legal battles with former executives have cost the company from a reputational perspective.

To get Gill out of the project, NiQuan’s noteholders have to agree to such a move.

NiQuan was set to refinance its bonds for US$300 million ($2 billion TT) by July 31 but the accident set it back.

NiQuan owes hundreds of millions to financiers in T&T—among them banks and credit unions and investment companies. Even the Government, through Petrotrin, has preference shares in NiQuan.

NiQuan raised money on the international bond market, loans and sums from local investors which include Republic Bank Limited, RBC Trust (Trinidad and Tobago) Limited, Beacon Insurance Company, Firstline Securities, Prime Capital Limited, JMMB Securities Limited, Waterloo Capital Advisors, KCL Capital Market Brokers Limited, Inshallah Investments, Farm Chem Engineering  Management Limited, GM Homes Limited, M&J Services Limited, Central Finance Facility Cooperative Society of Trinidad and Tobago Limited, Petrotrin and Washington DC registered, Niquan Energy LLC.

On September 22, NiQuan’s chairman John Andrews, in a newspaper advertisement, asked the Government to uphold the “sanctity of contract” even though no contract exists between the company and the State.

The directors of NiQuan Energy Trinidad Ltd, as of the company’s 2022 annual return, stamped on August 15, 2022, are Andrews, Alison Lewis, Nicholas Galt, Larry Felix and Gill.

https://www.guardian.co.tt/news/niquan- ... 5324bc02ec

[sMASH]

After the failed commissioning, rowley Said that he spent a ton of money to get it started... And it did.

But, if ur staff is competent, u would not really need additional help.

But, was the money sunk into it really justified?
Wss the money sunk into lng tr1 really justified?

We getting dragon gas by 2029,, why we couldn't spend that money then?


Why wait while we can theif now?

[Cantmis]

Where the gtl tuners ?

[pugboy]

i never heard of the gill chap before but he obviously must know how to talk a good talk to convince such a wide range of risk takers local and foreign with big money like that

more so in light of the gas situation here getting worser and worser each year
bank normally never lend money so

[sMASH]

If u read about the beechfield compressor project.... U would realize big men does fall for bs just like men hustling gold chain on high street

[pugboy]

on the surface that idea of aggregating gas from declining low pressure wells and compressing them to pressures to match higher producing wells sounded good since a low pressure well is of no use when piped together with higher pressure wells.

but in reality you can’t force a well to produce higher psi for same volumes no matter how much you collect and pressurize up.
and even if it could work it would empty those wells in no time.

i can only imagine how the bp and shell ppl were shaking their heads with this proposed solution

If u read about the beechfield compressor project.... U would realize big men does fall for bs just like men hustling gold chain on high street

[Dizzy28]

He was a lobbyist in DC for the Manning Administration IIRC.

i never heard of the gill chap before but he obviously must know how to talk a good talk to convince such a wide range of risk takers local and foreign with big money like that

more so in light of the gas situation here getting worser and worser each year
bank normally never lend money so

[nervewrecker]

If u read about the beechfield compressor project.... U would realize big men does fall for bs just like men hustling gold chain on high street

Sometimes they don't know better. When your field is finance chances are you don't have a clue about a plant. It can all look good as a prospect and you can sell it but they don't know what are it's capabilities or the state it's in.

Let's take a classic example. Man brings in untrained, unqualified and inexperienced family member on the job. Family member get damaged via improper practice and sheer clumsiness doing routine activities from piece of equipment. Investigation ensued and it was determined that an assessment must be done on status of all the equipment to ensure no reoccurrences. Finances secured for project and project ran it's duration. Complete waste of money and nobody any wiser. The money spent of this project could have been put towards proper maintenance instead.

[pugboy]

maybe he thought he coulda tow the line with rowlee but he ain’t know is a diff setta music rowlee playing for diff ppl

He was a lobbyist in DC for the Manning Administration IIRC.

i never heard of the gill chap before but he obviously must know how to talk a good talk to convince such a wide range of risk takers local and foreign with big money like that

more so in light of the gas situation here getting worser and worser each year
bank normally never lend money so

[bluefete]

Bottom line is no one did their due diligence properly.

The writing was plain to see from the Malcolm Jones $BILLION FAILURE of the first GTL plant.'' But harden is as harden does.

Thus plenty financiers quaking in their boots- scrap iron - ole battery buying?

[zoom rader]

Red mis government victory 2025

Cont tin u