What is LNG? Natural gas reserves can be found around the world. Gas may be found alone or in solution with oil in natural underground reservoirs. Natural gas is a naturally occurring gaseous mixture of hydrocarbon components and consists mainly of methane. The other constituents include ethane, propane and butane which are referred to as liquefied petroleum gases, and condensates which are heavier hydrocarbons. The composition of gas differs from one gas reservoir to another. Liquefied Natural Gas (LNG) is produced through a physical process that first cleans and cools a stream of natural gas. The gas is treated through successive stages of cooling. When the temperature of natural gas is reduced to -160 degrees Celsius at atmospheric pressure, the gas changes to liquid. This reduces the volume by approximately 600 times. LNG is lees than half dense as water. It is colourless, odourless and non-toxic. For ease of transportation from source to market, it is stored as a liquid and later regasified as needed. As a clean-burning fossil fuel, revapourised is used for power generation, vehicle fuel and as an alternative fuel for oil. Atlantic LNG Company of Trinidad and Tobago was formed on July 20th 1995 to develop a liquefied natural gas in Point Fortin, Trinidad and Tobago. The venture linked together one local Company, NGC Trinidad and Tobago LNG Limited and four other companies bringing extensive international experience in the natural gas industry: Amoco Trinidad (LNG) B.V., British Gas Trinidad LNG Limited, Repsol LNG Port-of-Spain B.V. and Cabot Trinidad LNG Limited. Presently the Atlantic group comprises three separate entities owned by subsidiaries of B.P plc, BG Group, Repsol YPF, Suez LNG, and The National Gas Company of Trinidad and Tobago Limited (Members) that oversee the business activities of each Atlantic company at a strategic level to ensure that it erates in congruence with the parent’s long term objectives and shareholder expectations. Atlantic LNG operates all the companies in the Atlantic group. Members meetings are held on a regular basis to deal with all matters concerning the performance of the company and activities that require member approval. Member committees provide support by providing expertise when and where required, including: • Assisting with peer reviews.
• Providing access to member networks of expertise.
• Providing assurance for members.
• Performing a quality assurance/quality control role.
The management’s guideline is a five-year business strategy approved by the Members of the Atlantic companies and implemented by the management of Atlantic LNG which is headed by a president and supported by vice-presidents. They are responsible for governing Atlantic’s day-to-day internal affairs and for the review and monitoring of the performance of operations. In the preparation for the start up of Train 4, Atlantic undertook a major recruitment drive which added one hundred and seventy seven new employees to the Atlantic family. As a developmental initiative, a number of Atlantic employees were seconded to shareholder organizations. Twenty employees overall were re-assigned within the company. On the for train facility there are different owners, they are as follows: • Train 1
Owner- Atlantic LNG Company of Trinidad and Tobago
Shareholders- BP Trinidad (LNG) B.V. (34%), BG Trinidad LNG Limited (26%), Repsol LNG Port-of-Spain B.V. (20%), NGC Trinidad and Tobago LNG Limited (10%), Suez LNG Finance S.A (10%) • Train 2/3
Owner- Atlantic LNG 2/3 Company of Trinidad and Tobago Unlimited Shareholders- Amoco Trinidad LNG LLC (42.5%), BG 2/3 Investments Limited (32.5%), Repsol Overzee Financien B.V. (25%). • Train 4
Owner- Atlantic LNG 4 Company of Trinidad and Tobago Unlimited Shareholders- BP (Barbados) Holding SRL (37.78%), BG Trinidad LNG Limited (28.89%), Repsol Overzee Financien B.V....