Following Keith Rowley’s press conference today, citizens of Trinidad and Tobago should be very concerned about what he and Minister Young negotiated regarding the restructuring of Atlantic LNG.
They could not :
1. Identify the potential liabilities costs that will now be incurred while claiming that the new shareholding came at no cost.
2. Identify the market value of the Government’s new shareholding of ALNG. How could a Prime Minister and Minister of Energy negotiate a shareholding agreement without knowing the asset’s value?
3. Explain the new pricing formula to be used for LNG export.
4. Provide evidence to explain their claims about future additional revenue to be gained.
5. Provide any details about how NGC will fulfil its natural gas supply obligations.
6. Identify the costs paid to consultants who worked on these negotiations.
Indeed, the Prime Minister could not provide actual evidence-based answers to most of the questions posed to him today. His inability to respond to probing questions is frightening as we recall that he and Minister Young were previously outsmarted at gas price negotiations in Houston.
The Prime Minister cannot hide behind assertions of confidentiality agreements. Citizens must be presented with an evidence-based report on what the Government agreed to and signed regarding the ALNG restructuring.
Kamla Persad-Bissessar, SC, MP
Leader of the Opposition
8th December 2023