{"id":10921,"date":"2022-08-05T16:53:55","date_gmt":"2022-08-05T20:53:55","guid":{"rendered":"https:\/\/newgenenergyltd.com\/?p=10921"},"modified":"2023-04-22T08:30:44","modified_gmt":"2023-04-22T12:30:44","slug":"ngc-and-newgen-sign-heads-of-agreement-to-deepen-hydrogen-partnership","status":"publish","type":"post","link":"https:\/\/newgenenergyltd.com\/ngc-and-newgen-sign-heads-of-agreement-to-deepen-hydrogen-partnership\/","title":{"rendered":"NGC and NewGen sign Heads of Agreement to deepen Hydrogen partnership"},"content":{"rendered":"

The National Gas Company of Trinidad and Tobago Limited (NGC) and NewGen Energy Limited (NewGen) have deepened their partnership to cooperate on the enabling of a sustainable\u00a0 hydrogen economy for the energy sector of Trinidad and Tobago. On August 4<\/span>th <\/span>2022, both\u00a0 companies signed a non-binding Heads of Agreement (HOA), which outlines the framework\u00a0 for the establishment of Binding Definitive Agreements between the relevant parties, once\u00a0 acceptable terms can be reached.\u00a0\u00a0<\/span><\/p>\n

The HOA follows the signing of a Letter of Intent in May 2022, which expressed NGC\u2019s\u00a0 intention to work collaboratively with NewGen to further evaluate the development of\u00a0 NewGen\u2019s hydrogen production facility. This evaluation has rapidly progressed, and the signing of this HOA includes the commitment from NGC and NewGen to jointly establish\u00a0 working teams that will now engage key related public and private stakeholders in this\u00a0 ground-breaking project development of a cleaner energy supply for Trinidad and Tobago.\u00a0\u00a0<\/span><\/p>\n

The HOA is a further milestone that advancesthe country\u2019s transition to a lower carbon future\u00a0 through low-carbon and green hydrogen production. It is the next key step in the progression\u00a0 of the development of the $250M USD NewGen hydrogen production facility in Point Lisas.\u00a0\u00a0<\/span><\/p>\n

Noting the significance of the HOA, NGC President Mark Loquan commented, \u201cThe NGC\u00a0 Group has been progressively demonstrating its commitment to lead the energy sector of\u00a0 Trinidad and Tobago into the new energy future. NGC is committed to collaborating with\u00a0 NewGen and all critical stakeholders in developing a low carbon future. We are well\u00a0<\/span><\/p>\n

positioned to support the country\u2019s pursuit of a greener hydrogen economy, in a similar role that NGC played in the establishment of T&T\u2019s existing world class hydrogen economy with\u00a0 natural gas. Agreements such as this HOA with NewGen Energy, coupled with the right\u00a0 partnerships, frameworks, and policies, has the ability to launch Trinidad and Tobago into a\u00a0 position of global leadership in clean energy.\u201d<\/span><\/p>\n

\u201cNewGen is delighted that our partnership with NGC continues to progress apace,\u201d said Philip\u00a0 Julien, Chairman of NewGen. \u201cWe are confident that our continued collaboration with NGC will lead to a further acceleration of the provision of Greener Hydrogen to Trinidad and\u00a0 Tobago, and that the NewGen Project is advanced towards a final investment decision consideration as soon as possible. We look forward to engaging with NGC and all relevant\u00a0 stakeholders, as we collectively contribute to the transition and decarbonisation of Trinidad\u00a0 and Tobago\u2019s energy sector.\u201d <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The National Gas Company of Trinidad and Tobago Limited (NGC) and NewGen Energy Limited (NewGen) have deepened their partnership to cooperate on the enabling of a sustainable\u00a0 hydrogen economy for the energy sector of Trinidad and Tobago. On August 4th 2022, both\u00a0 companies signed a non-binding Heads of Agreement (HOA), which outlines the framework\u00a0 for the establishment of Binding Definitive Agreements between the relevant parties, once\u00a0 acceptable terms can be[…]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/posts\/10921"}],"collection":[{"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/comments?post=10921"}],"version-history":[{"count":1,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/posts\/10921\/revisions"}],"predecessor-version":[{"id":10922,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/posts\/10921\/revisions\/10922"}],"wp:attachment":[{"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/media?parent=10921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/categories?post=10921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newgenenergyltd.com\/wp-json\/wp\/v2\/tags?post=10921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}