NiQuan gas-to-liquids processing plant

ON SCHEDULE: The NiQuan gas-to-liquids processing plant, which is located in the Pointe-a-Pierre compound of the mothballed Petrotrin refinery.

NIQUAN Energy Trinidad (NiQuan), the energy start-up that purchased the rights to Petrotrin’s abandoned Gas-to-Liquids (GTL) plant, went to market in May to raise US$100 million.

The company issued a bond, for an 18-month term to meet its construction completion date of December 31, 2019, repay indebtedness and for general corporate purposes. In May, NiQuan also received an equity injection of US$20,206,485. The local collateral agent for the bond is Republic Bank.

RECOMMENDED FOR YOU

FINANCE Minister Colm Imbert is assuring that the Office of Procurement Regulation would still have the power to investigate government-to-government arrangements after Government makes “slight” amendments to Section 7 of the Public Procurement and Disposal of Public Property Act next month.

A CALL has been made for Government to take immediate action on campaign finance reform and implementing the public procurement legislation.

Without these two pieces of legislation, says the Trinidad and Tobago Transparency Institute (TTTI), this country’s scoring on the Corruption Perception Index (CPI) will remain stagnant.

Publicly listed TTNGL’s profits declined last year because the international prices of its three products—natural gas liquids propane, butane and natural gasoline—have tumbled, said Dominic Rampersad, president of Phoenix Park Gas Processors Ltd (PPGPL) yesterday.

EXPORTT, this country’s official export facilitation organisation, has started to think of Cuba as a critical “gateway market” to the rest of Latin America.