Trinidad and Tobago NGC signs blue methanol sales agreement

The National Gas Corporation of Trinidad and Tobago (NGC) announced Tuesday that it had signed a sale and purchase agreement
with IGP Methanol to purchase blue methanol from IGP Methanol's Gulf Coast methanol plant in Louisiana, as reported Oct.
1 by Energy Year.

The agreement between NGC's subsidiary, NGC Petrochemical, and Gulf Coast Methanol 1 will allow NGC to purchase the low-carbon commodity and trade
it once the Gulf Coast methanol plant begins operations.

The Gulf Coast Methanol Park, 25 miles south of New Orleans, will build four methanol plants costing $1.
5 billion to $1.
6 billion
each.
The first unit is expected to start production
in 2026.

NGC President Mark Loquan said NGC continues to demonstrate its unequivocal commitment
to the clean energy transition through such partnerships.
We are closely monitoring global markets and see great potential value
in the blue and green energy commodity trading space.

The agreement follows a term sheet signed by both parties in December 2021
.