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Rowley and His Gary Sobers obfuscation leads to crisis

 
sgtdjones 2022-09-16 01:53:35 

Rowley and His Gary Sobers obfuscation lead to crisis.

On Thursday February 24, 203 days ago, the Business Guardian (BG) carried a headline ‘Secret deal: Govt agrees Atlantic LNG Train 1 is dead’. It was the lead story that spoke of the end of T&T’s first LNG train, and it having to be mothballed.T&T has four LNG trains.The Keith Rowley administration has quietly walked away from any hope of salvaging Atlantic LNG Train 1 and has instead signed an agreement with Royal Dutch Shell, the National Gas Company and bpTT to unitise trains two, three and four into a single train but it has never told the country the terms of the agreement.On Monday, the Prime Minister, flanked by his Gary Sobers, Energy Minister Stuart Young, announced what this newspaper told the country months ago and which for some inexplicable reason, the Government refused to confirm - that we are in a situation where the gas was simply not available for Train 1 and as a result, it has to be shut down.

The Business Guardian has also learnt that in the process, Chinese investors in Train 1 are out and NGC’s shareholding in the restructured entity will not be affected by the closure of Train 1. This was confirmed to the NGC by bpTT and Shell, the two major shareholders in Atlantic LNG.T&T paid over 400 million dollars for this Train to be mothballed.The HOA is effectively the final nail in the Train 1 saga, which has seen more than a quarter billion of taxpayers’ dollars wasted by the NGC in a failed attempt to revive the facility. Train 1 has been shut now for more than a year and the NGC’s effort resulted in directors of the company seeking to be protected from being held liable for the losses by seeking an indemnity from corporation sole for loss of the money.Further, the Government, led by the Prime Minister Dr Keith Rowley and the Minister of Energy Stuart Young, have consistently said Train 1 is not yet dead and was subject to negotiations. The HOA now shows that both Rowley and Young are aware that Train 1 is no more.

If ever there was a risky venture, this was one and as could have been predicted, the NGC and taxpayers lost a quarter billion dollars; it simply went down the drain. No one is held to account, the very Prime Minister defended the board and management of the NGC, those who opposed the scheme were removed from the board and the country moved on because as the PM himself lamented, many people in T&T do not keep a close eye on what is happening in the energy sector.


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Its only 400 million, what's the problem?