Former energy minister Stuart Young has accused Prime Minister Kamla Persad-Bissessar of attempting to take credit for the National Gas Company’s improved financial performance, in a statement issued a short while ago.
Young said the profit recorded by the National Gas Company of Trinidad and Tobago for the year ended December 31, 2025, resulted from decisions taken under the former People’s National Movement administration.
He said the restructuring of Atlantic LNG in December 2023 played a key role in boosting revenues, along with changes to gas pricing arrangements.
According to Young, the introduction of a new basket of indices using European and Asian gas prices, as well as Brent pricing, contributed to higher earnings. He added that the acquisition of a 10 per cent shareholding in Atlantic LNG Trains 2 and 3 increased the number of LNG cargoes available to NGC, further supporting profitability.
Young rejected any suggestion that the United National Congress administration was responsible for the company’s financial performance, describing such claims as misleading.
He also pointed to what he said were past losses linked to the Caribbean Gas Chemical Limited project, which he said was negotiated between 2010 and 2015 and continues to negatively impact NGC’s finances.
Young criticised the current administration’s management of the energy sector, naming government officials including Roodal Moonilal, David Lee Ramdeen and Rampersad Moonilal, and accused them of failing to make a positive contribution.
He also called on NGC to disclose how much of its profits were directly attributable to higher gas prices and increased LNG cargoes linked to the Atlantic LNG restructuring.
