Home' Trinidad and Tobago Guardian : May 21st 2015 Contents MAY 2015 • WEEK THREE www.guardian.co.tt BUSINESS GUARDIAN
ENERGY | BG9
Some 1,200 owners of diesel-powered maxi
taxis in T&T are to receive $60 million in
grants from the CNG (compressed natural gas)
subsidiary of the state-owned National Gas
Company to facilitate the purchase of Original
Equipment Manufacturer (OEM) CNG maxis,
NGC CNG spokesman Roger Sant confirmed
Sant was asked to comment on a report on
the NGV (Natural Gas Vehicles) global news
website that NGC CNG and the Association
of Maxi Taxis of Trinidad & Tobago (AMTTT)
had signed a Memorandum of Understanding
to facilitate a grant for the purchase of new
CNG-powered maxi taxis.
Under the terms of the MOU, NGC CNG
will provide a grant to each successful applicant
of $45,000 for small diesel-powered maxi taxis
or $75,000 for large diesel-powered maxis taxis.
The grant represents the salvage value of
each size maxi taxi and will be used towards
the purchase of an OEM CNG-powered maxi
taxi. The old diesel-powered maxi will be
destroyed and so there will be no net increase
in maxi taxis on the roads, according to NGV.
The grant will be available to any registered
maxi-taxi owner in T&T, who meets certain
The MOU will expire either when: the full
value of the budgeted outlay from NGC CNG
is utilised or, complete replacement of 1,200
diesel-powered maxis is achieved or, after
Sant told NGV that there were approxi-
mately 5,000 maxi taxis in Trinidad and
Tobago, transporting the public in 12- and
AMTTT president Eon Hewitt was happy
for this landmark development. He said:
"The maxi-taxi owners are extremely happy
for this assistance to change to OEM CNG
maxi taxis and to play our part in national
At the signing ceremony on Friday, NGC
CNG president Curtis Mohammed said: "We
are confident that this grant will assist in
catalyzing the replacement of old, diesel
maxi units with new, cleaner burning equip-
ment on the roads of T&T."
Natural gas is a naturally occurring fossil
fuel, widely available in T&T.
Meanwhile, NGC appears to be speeding
up the implementation of CNG with the
execution, last Friday as well, of two other
MOUs with the two fuel distribution com-
The NGC executed MOUs with the
Trinidad and Tobago National Petroleum
Marketing Company Limited (NP) and United
Independent Petroleum Marketing Company
In a statement, NGC said NP and Unipet
represent significant milestones in the effort,
and outlined the terms and conditions for
the respective companies regarding the pro-
vision of CNG equipment installations, oper-
ations and dispensation.
NGC has been mandated by the Govern-
ment to accelerate and expand the use of
CNG as a major alternative transportation
fuel in the country.
NGC CNG plans to invest on a phased
basis over $2 billion over five years.
The first phase, lasting two years, which
is projected to cost TT$500 million, will
involve the construction of 22 new or
revamped CNG-only fuel stations and con-
version of over 17,000 vehicles. The second
phase, lasting three years, is projected to
cost TT$1.57 billion for the construction of
more stations and conversions.
Details on how maxi-taxi owners can
access the grant will be published within
the next few weeks.
Current price structure
in Trinidad & Tobago
PREMIUM -- $5.75/litre
(Source: NGC CNG Company Limited)
Facilitating growth in CNG
Promoting Compressed Natural Gas
(CNG) as an alternative vehicular fuel.
Introducing NGC CNG
"CNG is our business"
BHP Billiton has urged the global oil and
gas industry to make significant new dis-
coveries to avoid a significant gap in long-
The diversified resources company has
called for the international petroleum industry
to find new sources of production in the
coming years before the US shale sector
Speaking at the Australian Petroleum Pro-
duction and Exploration Association (APPEA)
conference in Melbourne this week, BHP
Petroleum president Tim Cutt said uncon-
ventional oil in the United States would play
an important role in meeting long-term
demand and turning around fortunes in the
oil and gas industry.
He explained that US oil production,
which has risen by 3 million barrels a day
in the past four years following the shale
boom, was likely to peak in the next
decade, increasing reliance on new sources
around the world.
"Backed by the growth in unconventional
oil, the United States will play an important
role in meeting this effective demand gap,"
"Nevertheless, additional supply will be
required from new sources around the globe.
These sources of supply will become increas-
ingly important given that US production
will likely peak within the next decade."
$60m 'free money' for
maxi taxis to convert to CNG
New production sources
needed to meet future demand
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