By Aleem Khan
Royal Dutch Shell’s liquified natural gas (LNG) sales gained 16 per cent in the third quarter of 2014, thanks to its acquisition of Repsol’s LNG assets in T&T and Peru, Shell chief financial officer Simon Henry said during a conference call with investor. Henry said: “The LNG sales volumes were up 16 per cent Q3 on Q3. That’s a strong growth, and that’s driven primarily by the acquisition of Atlantic and Peru LNG.”
Albeit with more specifics, Henry echoed what T&T Energy and Energy Affairs Minister Kevin Ramnarine said about the price of gas being “indexed” to crude oil prices, which have plummeted approximately US$30 per barrel since June. Both Finance Minister Larry Howai and Ramnarine have been saying the country’s energy revenue stream has not been compromised as a result of falling oil prices as the decline is being offset by “very good” gas prices.
Read the full story in the Trinidad and Tobago Guardian Newspaper.