PNM in Gov't (2020-2025)

[De Dragon]

So now it is not an excuse.

So the simple statements by BP Shell and GORTT that committed all to the restructuring of the LNG complex is to what end?


You guys state no gas for train one as if it isn't the primary problem that the restructuring seeks to solve.

You simply do not know.
All the blather redirect,name calling and juvenile tactics don't change that.

Colos, people who have done even a school tour of a process plant know that a TAR is just not done on those terms, or even light years close to those terms. Plants that do TAR's watch every penny during those exercises, and that's especially true of plants that are 100% owned by the financiers of the TAR. The TAR will benefit us alone? Shell/BP so magnanimous? You like to talk sheit about "we still ahead", well BP/Shell ahead by $300M in spite of your misdirection where you're trying to make it look like we're going to be raking it in tomorrow

[Redman]

Any one who has done a school tour of a process plant would also know what the word process means.
A sequence of events leading to a desired outcome.

It seems to evade you completely.

You feel the need to repeatedly state details about TARs as if that this TAR is the only issue.

Soyou can stick on this single step...and continue to pin point what you know about TARs
Impressive as it maybe it isn't relevant.

I will wait for you to say something relevant about THIS ongoing evolution.

[sMASH]

Gas and USd in the sane boat: not enough to go around
A tar is like doing a 100km service on ur engine.
It just brings Ur plant BACK to what it was designed to do, or as near as.

The tar right now is like servicing a truck with no work. U spending that money with no immediate means to recover it.

Take a hint, a clue from the other shareholders who bread and butter it is to extract and sell oil and gas: leff the tar off the timeline untill it have a means to recoup the money.

We don't need to cripple ngc accounts... Unless the goal is to chap dat up and pipe it off too

[Redman]

You are saying it is better to leave your truck to shut down when work shows up?


Well that depends.....and that's the point.

It remains that this TAR is part of the necessary re set of the industry.
As is the money paid by the MNCs 2019
As is whatever transfer pricing we avoided in 2020.
As is the current ongoing reset up and down stream
What is the consideration for funding this TAR?

Is the 300 a shareholder loan?
Simply is there an uplift in out net take from the whole shibang?

Until that is determined we can't say whether it makes sense or not.

[sMASH]

Unless, u getting gas spuriously like Barbados sending a shipment, u urself said the time line fir gas is 2025.
So hold off till then.

There is no other source that will magically appear in the pipeline.

[sMASH]

BTW, austerity measures, but more obvious this time.

[Redman]

Unless, u getting gas spuriously like Barbados sending a shipment, u urself said the time line fir gas is 2025.
So hold off till then.

There is no other source that will magically appear in the pipeline.

Nothing new ...the shareholders seem to think it make sense.
Of course what do they know
https://www.bp.com/en_tt/trinidad-and-t ... antic.html

[pugboy]

this country runs on ketchup, mayonnaise and garlic sauce
cut out that and ppl might really riot

all them ketchup made with imported tomato paste from china
w
he should be mandating they use local tomato

BTW, austerity measures, but more obvious this time.

Screenshot_2021-03-23-08-05-22-600_com.facebook.katana.jpeg

[sMASH]

Why would u sell ur goods at 35% of the normal prices?
Unless ur seeing real pressure and need some sort of liquidity.
Not even profit, just simple cash.



This economy getting mash up.

Berger had already stopped production locally, opting to just inport and resell

[pugboy]

didn’t know they stopped making paint
so that “proudly tt” logo means what?

[zoom rader]

Why would u sell ur goods at 35% of the normal prices?
Unless ur seeing real pressure and need some sort of liquidity.
Not even profit, just simple cash.



This economy getting mash up.

Berger had already stopped production locally, opting to just inport and resell

FB_IMG_1616502221858.jpeg

Rowlamonics

Take bull, all dem red government contractors like eliteauto will soon be hit first six

[The_Honourable]

BTW, austerity measures, but more obvious this time.

Screenshot_2021-03-23-08-05-22-600_com.facebook.katana.jpeg

So basically stop buying the good stuff do like most of their supporters... eat grass

[zoom rader]

BTW, austerity measures, but more obvious this time.

Screenshot_2021-03-23-08-05-22-600_com.facebook.katana.jpeg

So basically stop buying the good stuff do like most of their supporters... eat grass

Rowlamonics

[Dave]

Do the rules apply to the enforcers?

BTW, austerity measures, but more obvious this time.

Screenshot_2021-03-23-08-05-22-600_com.facebook.katana.jpeg

So basically stop buying the good stuff do like most of their supporters... eat grass

[eliteauto]

Why would u sell ur goods at 35% of the normal prices?
Unless ur seeing real pressure and need some sort of liquidity.
Not even profit, just simple cash.



This economy getting mash up.

Berger had already stopped production locally, opting to just inport and resell

FB_IMG_1616502221858.jpeg

Good time to buy. I use Sherwin Williams but I might get some charts and see what I like

[pugboy]

no they keep on buying big shot cars with their tax breaks

Do the rules apply to the enforcers?

BTW, austerity measures, but more obvious this time.

Screenshot_2021-03-23-08-05-22-600_com.facebook.katana.jpeg

So basically stop buying the good stuff do like most of their supporters... eat grass

[The_Honourable]

So if I buy my lil Kraft mayonnaise, in pnm eyes i'm stush and causing forex problems...

This is why we can't have good things.

[shake d livin wake d dead]

Open your cupboard and see how much "made in trinidad" items in there. Also cost of imported food stuff is a lot cheaper than locally produced items....them mad yes

[zoom rader]

Brace yourself for Ghanaian Yams

[zoom rader]

Open your cupboard and see how much "made in trinidad" items in there. Also cost of imported food stuff is a lot cheaper than locally produced items....them mad yes

Apparently Yams cheaper in Ghana

[Chimera]

d fuq
ketchup they attacking

[matr1x]

You expected Africans to run a country good? Lol

[De Dragon]

You are saying it is better to leave your truck to shut down when work shows up?


Well that depends.....and that's the point.

It remains that this TAR is part of the necessary re set of the industry.
As is the money paid by the MNCs 2019
As is whatever transfer pricing we avoided in 2020.
As is the current ongoing reset up and down stream
What is the consideration for funding this TAR?

Is the 300 a shareholder loan?
Simply is there an uplift in out net take from the whole shibang?

Until that is determined we can't say whether it makes sense or not.

No fool, what we're saying is you don't spend money to service someone else's truck and then return to being a mere driver/loader Now read and stop your sheit talk, because when I thought you couldn't look more dumb, there you go again
Lemme guess Curtis Williams is an opinion columnist right?


Curtis Williams
State-owned Na­tion­al Gas Com­pa­ny of T&T Ltd (NGC) has promised even if it be­comes the op­er­a­tor of At­lantic LNG’s Train 1 it will not be at the ex­pense of the down­stream petro­chem­i­cal sec­tor.

The Sun­day Guardian had re­port­ed ex­clu­sive­ly that the NGC is tak­ing a ma­jor gam­ble by agree­ing to spend hun­dreds of mil­lions of dol­lars to do an end-of-life turn­around (TAR) of the plant as Train 1’s ma­jor share­hold­ers, Roy­al Dutch Shell and BPTT have made it clear they do not have the gas for Train 1 and were not pre­pared to put out huge sums of mon­ey for a TAR when they can­not see the funds be­ing re­cov­ered.

Well-placed sources in the NGC tell the Busi­ness Guardian that the com­pa­ny has been in­struct­ed by the gov­ern­ment to do all it can to save Train 1, in­clud­ing the ma­jor ex­pen­di­ture.

To date sources say the NGC has not been able to se­cure the 400 mil­lion stan­dard cu­bic feet per day (mm­scf/d) of nat­ur­al gas need­ed to ful­ly op­er­ate the plant.



The NGC has al­so found it­self in a dif­fi­cult po­si­tion in which some plants have closed be­cause of the weak com­mod­i­ty prices for methanol and am­mo­nia but al­so in a sit­u­a­tion where for years those very plants were not get­ting enough gas be­cause of cur­tail­ment is­sues.

The Busi­ness Guardian asked the NGC if it could guar­an­tee that the down­stream sec­tor will not be short-end­ed for nat­ur­al gas should there be a way for­ward for Train 1. The com­pa­ny as­sured: “NGC has met and will con­tin­ue to meet its down­stream oblig­a­tions.”

Busi­ness Guardian fur­ther asked the NGC where it is it like­ly to get gas from for its Train 1 pro­pos­al?

“All dis­cus­sions be­tween NGC and the Train 1 share­hold­ers is and re­mains strict­ly con­fi­den­tial and NGC is there­fore pre­clud­ed from mak­ing and prof­fer­ing any com­ments on same.”

Two week ago En­er­gy Min­is­ter Franklin Khan told the Par­lia­ment that the part­ners had agreed to the TAR, but did not give de­tails.

He said, “At­lantic Train One will not be shut­ting down in Jan­u­ary 2021. Train One will con­tin­ue to op­er­ate in 2021 and will be part of wider ne­go­ti­a­tions which have been tak­ing place among the At­lantic LNG share­hold­ers to form one uni­tised fa­cil­i­ty en­com­pass­ing all four trains.”

Khan ad­mit­ted that his con­fi­dence in the con­tin­u­a­tion of Train 1 comes even though the NGC does not at this stage have the gas for it.

“So we are in some sen­si­tive ne­go­ti­a­tions, let me make that point, with up­stream­ers to sup­ply gas to Train 1,” he said.

Busi­ness Guardian has been told for Train 1 to even op­er­ate it would re­quire no less than 250 mil­lion stan­dard cu­bic feet of gas per day (mm­scf/d) oth­er­wise the com­pres­sors will not kick in. This at a time when gas pro­duc­tion is al­ready low.

BPTT does not have enough

nat­ur­al gas to sup­ply Train 1

Cru­cial to un­der­stand­ing the Gov­ern­ment’s dilem­ma is the role of BPTT, which for the last 21 years pro­vid­ed 100 per cent of the gas for Train 1. The com­pa­ny has made it clear that it does not now have the gas and has not pro­vi­sioned for it.



A con­fi­den­tial BPTT doc­u­ment shows that not on­ly has the com­pa­ny not al­lo­cat­ed a mol­e­cule of nat­ur­al gas for Train 1, it is ex­pect­ing a cat­a­stroph­ic fall in its own pro­duc­tion.

The doc­u­ment shows the com­pa­ny ex­pect­ing an av­er­age of 1.371 bil­lion stan­dard cu­bic feet of nat­ur­al gas per day in 2021. Com­pare this to March this year when the com­pa­ny was pro­duc­ing over two bil­lion stan­dard cu­bic feet per day and av­er­aged up to Sep­tem­ber this year 1.8 bil­lion stan­dard cu­bic feet per day.

In re­sponse to ques­tions, BPTT re­fused to be drawn on the Train 1 is­sue but ad­mit­ted that next year its pro­duc­tion will be down. The com­pa­ny said the COVID-19 pan­dem­ic had neg­a­tive­ly im­pact­ed its projects which were to be com­plet­ed in 2021 and would now be fin­ished in mid-2022.

“In terms of pro­duc­tion, 2020 and 2021 have been im­pact­ed by the dis­ap­point­ing re­sults from our in­fill drilling pro­grammes at the be­gin­ning of 2019.

“Fol­low­ing the re­sults of the in­fill drilling pro­gramme in 2019, we sought to mit­i­gate pro­duc­tion de­clines by in­creas­ing our fo­cus on well work and sys­tem op­ti­mi­sa­tion to max­imise pro­duc­tion from our ex­ist­ing fields. These mea­sures had the de­sired ef­fect in 2019 and 2020 of slow­ing the rate of nat­ur­al field de­clines. We will con­tin­ue our fo­cus on well work and sys­tem op­ti­mi­sa­tion in­to 2021, how­ev­er, our out­look for next year has been im­pact­ed neg­a­tive­ly by COVID-19,” BPTT said.

It said the virus has im­pact­ed the sched­ule for the Cas­sia Com­pres­sion project, the start-up of which has been de­layed from 2021 in­to 2022.

BPTT added, “The com­bined ef­fect of nat­ur­al field de­clines and the de­lay in the Cas­sia Com­pres­sion project means that our pro­duc­tion out­look for 2021 will be low­er than 2020.”

In re­sponse to ques­tions from the Busi­ness Guardian, BPTT said it an­tic­i­pates that in 2022 pro­duc­tion vol­umes will im­prove with the start-up of the Cas­sia Com­pres­sion and Mat­a­pal projects.

“We ex­pect that both of these projects will be on­line in the first half of 2022 and those vol­umes will be put to­wards ful­fill­ing our ex­ist­ing con­trac­tu­al oblig­a­tions for Trains 2, 3, 4 and NGC,” the state­ment added.

The ne­go­ti­a­tions are on­go­ing even as the Cen­tral Bank put out stag­ger­ing num­bers on Mon­day show­ing ma­jor de­clines in the petro­chem­i­cal sec­tor and the chal­lenges that the en­er­gy sec­tor is fac­ing.

Ac­cord­ing to the Cen­tral Bank avail­able in­di­ca­tors sug­gest that en­er­gy sec­tor ac­tiv­i­ty re­mained fur­ther con­strained in the third quar­ter of 2020, de­clin­ing 20.1 per cent.

Ac­cord­ing to the bank the ef­fects of the COVID-19 pan­dem­ic on eco­nom­ic ac­tiv­i­ty saw sig­nif­i­cant year on-year de­clines in the lo­cal pro­duc­tion of nat­ur­al gas (19.9 per cent). Re­fin­ing ac­tiv­i­ty dropped 20.1 per cent, ev­i­denced by de­clines in LNG (19.9 per cent) and NGLs (20.8 per cent).



The bank’s Mon­e­tary Pol­i­cy Re­port (MPR) read; “Down­stream ac­tiv­i­ty was al­so ad­verse­ly im­pact­ed, fol­low­ing the trend of up­stream coun­ter­parts, as petro­chem­i­cal out­put fell (31.1 per cent) over the three month pe­ri­od. The no­table de­cline was dri­ven by a 49.6 per cent falloff in methanol pro­duc­tion, on the heels of clo­sures to the CMC, TTMC II and Ti­tan fa­cil­i­ties dur­ing the pe­ri­od. Ad­di­tion­al­ly, am­mo­nia out­put fell 16.8 per cent (year-on-year) over the pe­ri­od.”

The MPR not­ed that both mid­stream and down­stream ac­tiv­i­ties weak­ened with re­fin­ing ac­tiv­i­ty falling by 4.8 per cent when com­pared with the first half of 2019. LNG pro­duc­tion de­creased by 4.0 per cent, while NGL pro­duc­tion fell by 7.3 per cent.

“Ac­tiv­i­ty in the petro­chem­i­cal sub-sec­tor con­tract­ed by 7.1 per cent in the first half of 2020as sev­er­al do­mes­tic petro­chem­i­cal plants closed due to the damp­en­ing ef­fects of the coro­n­avirus on com­mod­i­ty mar­kets and the world econ­o­my at large. Pro­duc­tion of methanol fell by 9.2 per cent (year-on-year) in the first half of 2020. Notwith­stand­ing a mar­gin­al 1.1 per cent in­crease in urea pro­duc­tion, fer­tilis­er pro­duc­tion fell by5.2 per cent, weighed down by a 6.0 per cent fall in am­mo­nia pro­duc­tion,” the MPR re­vealed.

[sMASH]

Wait nah, Collis Jr?


10% shares, 100% of the tar... + extra works.

And it still wouldn't have gas to run the plant to make back the money

[Habit7]

You expected Africans to run a country good? Lol

The top five economies (GDP per capita) in Latin America and the Caribbean are run by leaders of African descent.
Leave the economics for people who are smarter, you just focus on your releasing your pent up racism and misogyny online.

Bahamas $34,863
St. Kitts and Nevis $19,935
Barbados $18,148
Trinidad and Tobago $17,398
Antigua and Barbuda $17,112
Uruguay $16,190

[zoom rader]

You expected Africans to run a country good? Lol

The top five economies (GDP per capita) in Latin America and the Caribbean are run by leaders of African descent.
Leave the economics for people who are smarter, you just focus on your releasing your pent up racism and misogyny online.

Bahamas $34,863
St. Kitts and Nevis $19,935
Barbados $18,148
Trinidad and Tobago $17,398
Antigua and Barbuda $17,112
Uruguay $16,190

Bullchit

Bahamas is US backed and owned
Barbados is UK backed and owned
Antigua is UK backed and owned
St kitts is UK backed and owned.

^^^ Those countries have puppet governments , black governments owned by white folk to protect their interests.

[Redman]

No fool, what we're saying is you don't spend money to service someone else's truck and then return to being a mere driver/loader Now read and stop your sheit talk, because when I thought you couldn't look more dumb, there you go again
Lemme guess Curtis Williams is an opinion columnist right?

Whats the shareholding going to be at the end of the unitization process??


Again your assumption is that there is no change to anything and that the ownership,supply and off take arrangements remain as they were in the past.

Since 2019 BP,Shell GORTT even the OPM have issued multiple statements that they are in the process of renegotiating everything-because thats where the industry is.

The objective of the whole process(there is that word again)-stated by BP,Shell and Gortt is to remove the "gas for train X but not Y' issue,simplify supply to the whole venture(all 4 plants have the same level of supply), to simplify the shareholding arrangement,enhance disclosure to ensure that the transfer pricing of the past doesn't go forward, therefore ensuring that TnT shares in the final price that our gas is sold at.
All of that means that we will receive X per annum from the whole enterprise-Just post the dollar value of X if you can.
Dais what BP,Shell and GORTT published as their positions

So if it is that BP/Shell made payments in 2019 for the transfer pricing- and weve put 300MUSD in and there are the ongoing talks to continue the process-it seems to be talks and plans in good faith.

Upto and until we see what we get for whatever we put out- and how X compares to it...and whichever other metrics are relevant.
We cannot say if its good bad or indifferent.

You of course can continue to blather.

[De Dragon]

No fool, what we're saying is you don't spend money to service someone else's truck and then return to being a mere driver/loader Now read and stop your sheit talk, because when I thought you couldn't look more dumb, there you go again
Lemme guess Curtis Williams is an opinion columnist right?

Whats the shareholding going to be at the end of the unitization process??


Again your assumption is that there is no change to anything and that the ownership,supply and off take arrangements remain as they were in the past.

Since 2019 BP,Shell GORTT even the OPM have issued multiple statements that they are in the process of renegotiating everything-because thats where the industry is.

The objective of the whole process(there is that word again)-stated by BP,Shell and Gortt is to remove the "gas for train X but not Y' issue,simplify supply to the whole venture(all 4 plants have the same level of supply), to simplify the shareholding arrangement,enhance disclosure to ensure that the transfer pricing of the past doesn't go forward, therefore ensuring that TnT shares in the final price that our gas is sold at.
All of that means that we will receive X per annum from the whole enterprise-Just post the dollar value of X if you can.
Dais what BP,Shell and GORTT published as their positions

So if it is that BP/Shell made payments in 2019 for the transfer pricing- and weve put 300MUSD in and there are the ongoing talks to continue the process-it seems to be talks and plans in good faith.

Upto and until we see what we get for whatever we put out- and how X compares to it...and whichever other metrics are relevant.
We cannot say if its good bad or indifferent.

You of course can continue to blather.

The sheit in your brain pressing on your reading and comprehension skill center I see
Which Train missing from there again? Continue with your self deluding, you too stupid to see the nose on your own dotish face.
In re­sponse to ques­tions from the Busi­ness Guardian, BPTT said it an­tic­i­pates that in 2022 pro­duc­tion vol­umes will im­prove with the start-up of the Cas­sia Com­pres­sion and Mat­a­pal projects.

“We ex­pect that both of these projects will be on­line in the first half of 2022 and those vol­umes will be put to­wards ful­fill­ing our ex­ist­ing con­trac­tu­al oblig­a­tions for Trains 2, 3, 4 and NGC,” the state­ment added.
From facking BP itself too eh! So contrary to lies we are told, the NGC gas is now going to go to Train 1 at the expense of everyone else., but Caca Bag says that is good business The very definition of conflict of interest. Court is inevitably where this one will end up. $8B lost in 10 years, how much will be lost now? This tunts Colos trying to convince people that a majority shareholder will suddenly cede enough of their already dwindling gas revenue, to a minority shareholder in a manner that will offset at least $8B. No wonder the LFD RFD PNM cannot even get a single vaccine on their own, they're loaded with kants like Colos and Tunts7.

[zoom rader]

I fed up see Redman get beat up on tuner.

I sure at school he used to get tap up

[De Dragon]

I fed up see Redman get beat up on tuner.

I sure at school he used to get tap up

Maybe that is why he so dotish now.......