COMPANY PROFILE
2014 National Energy (Corporation of Trinidad and Tobago)
+1 868 636 8471 | www.nationalenergy.tt
The future of energy
Editorial: Harriet Pattison
With the mandate to ‘develop and manage suitable infrastructure, in order to support, facilitate and promote the various activities relevant to the natural gas-based energy sector’. National Energy has helped to promote Trinidad and Tobago’s energy brand on a global scale for over 30 years. The Company was re-branded in 2013, and is now looking to further develop a sustainable energy sector as well as work with other agencies to export the country’s expertise to regional and international energy sector players, with particular focus on emerging economies.
Trinidad and Tobago is among the richest countries in the Caribbean and with a strong, industrialised economy, it has secured a rich heritage in the natural gas, oil and petrochemical industries. The Coordinating Task Force initially led the way in monetising the country’s natural gas resources, subsequently leading to the creation of National Energy, which was
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incorporated by the Government of the Republic of Trinidad and Tobago in 1979. The Company celebrated its 35th anniversary on 12th September this year.
A DEDICATED SERVICE Providing quality and dedicated services in the area of natural gas based development, National Energy sought to attract foreign
investors while working towards becoming a global leader in the development of sustainable energy based industries. This included the construction and operation of the early petrochemical plants, ports and marine infrastructure, which serviced all plants at the Point Lisas Industrial Estate throughout the 1980’s. These activities continue today.
National Energy (Corporation of Trinidad and Tobago) National Energy’s President, Dr Vernon Paltoo, explains: “Over the years we went through a lot of changes but in a nutshell, today we maintain the same mandate in terms of establishing new industries within the energy sector. We have a wider portfolio today since our business also involves developing renewable and alternative energy projects, as well as other aspects of the energy value chain.” Dr Paltoo joined National Energy ten years ago having been involved in the industrial development and academic industry for over 20 years. Joining as a Team Leader for Business Development, Dr Paltoo gained experience through all sections of the Company before being appointed President in January 2013. “Since then,” he explains, “we
have re-branded the Company to position it for the ever changing and future markets. I have systemically tried to change the image and focus of the Company and concentrate on why we continue to develop Trinidad and Tobago. I firmly believe that our future lies beyond Trinidad and Tobago, so that has been my primary focus in the last few years.”
A NEW INTERNATIONAL IMAGE Incorporated in 1979 as National Energy Corporation of Trinidad and Tobago Company Limited, the Company decided to rebrand in 2013 to National Energy. Dr Paltoo explains the reasons behind this were mainly to push the international barriers: “It was felt that we needed a more international image and presence and so the
entire image and focus of the Company went to push Trinidad and Tobago’s energy sector beyond the barriers of Trinidad and Tobago.” The re-branding also allowed the Company to engage in a diverse range of activities associated with the energy sector and to become a respected international provider of energy services and logistics, especially for the emerging energy markets. “We are actively looking to go out of Trinidad and Tobago and expand businesses in other provinces” explains Dr Paltoo. “Earlier this year, there was a mission to Suriname where we’re looking at deepening ties with that country and providing assistance as it relates to the development of the Surinamese energy sector. We feel that a lot of the expertise that resides with
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National Energy and as well as any wider energy sector can be used in assisting that country to develop their energy industry in a much more efficient manner. Even though we have done well, there’s no harm in ensuring that other countries can benefit from our experiences and expertise.”
CELEBRATING NEW PROJECTS In September of this year, National Energy celebrated the official opening of the Port of Galeota. Located in the south-eastern point of Trinidad and Tobago, the multi-purpose port facility will be a logistics hub for the energy sector and will cater specifically to the offshore needs of both the exploration and production operators.
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“We have to be very sensitive in terms of our operations so all necessary precautions, processes and procedures are followed to the highest international standards, especially when it comes to the loading and offloading of cargoes”
The Port of Galeota, which includes five berths (one for the Trinidad and Tobago Coast Guard) will assist Trinidad and Tobago with the recent upsurge in planned upstream activity within the region and in turn, help to contribute to the generation of revenue for the country. “It is a dedicated energy port, which was completed a couple of months ago at a cost of US$85 million. It will not only service our existing clients but would also provide a platform for us to penetrate other markets,” explains Dr Paltoo. The new industrial Methanol/ Dimethyl Ether project (DME), earmarked for the south-western part of the country is also under development at the Union Industrial Estate, located in La Brea. At an estimated capital cost of US$850
National Energy (Corporation of Trinidad and Tobago) million, the project by Mitsubishi will be the first major industrial chemical plant at the Union Industrial Estate. The project demonstrates the competitive pedestal that National Energy is currently sitting on: “Even though there is significant competition from other territories due to competitive gas prices, namely in Africa, the Middle East and even North America with the Shale Gas industry, we are still able to attract large multinational players, namely Mitsubishi of Japan in terms of developing new industries in Trinidad and Tobago,” says Dr Paltoo. “In the past, our traditional investors would have come from Europe and North America but what we’re seeing now is that there is a lot of interest beyond our traditional foreign investment. There are a lot of Asian and South American investors, who are genuinely
interested in investing in Trinidad and Tobago,” Dr Paltoo adds.
SUSTAINABLE MANAGEMENT In addition to helping to promote Trinidad and Tobago’s expertise, helping to grow its economy and developing the infrastructural requirements needed to support the energy industry, National Energy also ensures that it takes the environmental impacts into full consideration. With sustainability so integral to this industry, Dr Paltoo explains: “It is a key aspect in terms of what we do; green and sustainable management of the environment is one of our primary mandates in terms of all the activities that we do. We are looking at other energybased projects to help ensure it’s a viable industry for decades to come. “There’s a strong reliance on natural gas as the major input
material for energy sector projects. However, we are striving to leverage our experience and expertise from the existing industries that we have successfully developed in order to create new value-added projects and products. It is important to build sustainable and economically viable industries so that in the event that there are issues with the supplier of raw materials 50 or 60 years from now, we would have developed a sophisticated energy industry that would not entirely rely on local raw material prices.”
EXPANDING INTO LOGISTICS With a fleet currently consisting of nine vessels, Dr Paltoo confirms that National Energy is looking to expand its business further into logistics with the addition of a new vessel before the end of the year. One of the target markets the Company is looking at is Suriname:
• Structures and Bridges • Heavy Foundations • Marine Works and Ports • Light Rail Systems • Design-Builds • Structural & Historical Renovation • General Contracting
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Contact:
The recently conpleted New Port at Galeota Project for National Energy
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“We foresee that as a base in which we can provide logistics services for the emerging energy industry. We will be increasing our activity, increasing our portfolio and expanding our services so that we can accommodate clients not only in Trinidad and Tobago but in other provinces as well. Suriname is one of our first potential investment destinations,” explains Dr Paltoo.
audits in order to fill the gaps and close any loop holes that may be present within the system.” “We understand the nature of our business and the risks involved and, in so doing we would take the necessary steps and follow the relevant processes and procedures, cementing all levels of containment and security where our shipments are concerned,” Dr Paltoo adds.
MAINTAINING INTERNATIONAL STANDARDS With the handling of hazardous products including methanol and ammonia and with no major incidents throughout its 35 years, Dr Paltoo explains that international standards for safety and security are imperative to the Company. “We operate six piers and one dock that handle all the methanol, ammonia and iron and steel shipments out of the industrial estate” he explains. “They are constantly audited, reviewed and assessed by all the relevant agencies. In fact, we have international agencies that conduct exercises to ensure that the highest global standards for safety and security are adhered to. Our staff are trained accordingly to ensure that those needs are met. “We have to be very sensitive in terms of our operations so all necessary precautions, processes and procedures are followed to the highest international standards, especially when it comes to the loading and offloading of cargoes. “Health and Safety is a constantly evolving industry in which we diligently follow and maintain the highest standards.” With the Company’s many processes and procedures, and as the operators of all the industrial ports in the country, Dr Paltoo admits that “improving health and safety is continual, undertaking multiple exercises and
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“I firmly believe that our future lies beyond Trinidad and Tobago, so that has been my primary focus in the last few years” A LEADING CAPACITY Competition in this industry is rife but with National Energy’s expertise and determination to stay ahead of the game, and place Trinidad and Tobago firmly on the map, Dr Paltoo explains why this Company remains one of the key leaders in such a competitive industry: “Let me put this into context: Currently, our methanol and ammonia production capacities are 6.5 million tonnes 5.6 million tonnes respectively. Trinidad and Tobago is a global leader in the export of methanol and ammonia, contributing approximately 20% of global methanol exports and 25% of global ammonia exports.” In 2013, National Energy
handled over 18 million tonnes of petrochemical and steel products with an estimated value of US$6 billion. “For many years we have been the global leaders where that is concerned and our plants are some of the best run plants in the world.” As with so many things, the world continues to change and with it comes new and increasingly competitive locations. Dr Paltoo reveals that National Energy must maintain its innovative flair and continue to be adaptive if the Company is to compete with emerging markets. “There are lots of developments happening very quickly,” explains Dr Paltoo. “Especially with other very competitive locations, and so we have to continue to be adaptive. We have to be innovative.”
A FUTURE OF PROMISE Leaving behind its birthday celebrations for another year, National Energy is looking forward to a future that boasts promise and development. “While we have significant expertise in port operation and construction, we want to export that expertise. As such, we are looking at neighbouring countries where they are now developing their infrastructure,” explains Dr Paltoo. “We have assisted those countries and are seeking to leverage our expertise to international markets and ensure that the same standards, processes and procedures which we follow are adopted in any other location, which we may operate. “But at the same time, we firmly believe that we can build our industry locally by partnering with foreign and local investors and going beyond our traditional products, such as methanol and ammonia, with the intent on developing other industries,” he concludes.
National Energy (Corporation of Trinidad and Tobago)
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