Minister Young meets with energy execs in Canada

Energy Minister Stuart Young has met with executives of Methanex and Shell in Canada.

Young met with Methanex executives Doug Arnell, Chairman of the Board, Rich Sumner, CEO and President, Ian Cameron, Special Advisor and Colin Bain, Managing Director and President of Methanex Trinidad and Tobago.

Methanex is the largest producer and trader of methanol in the world with two plants in Trinidad and Tobago.

The Minister was accompanied by Mark Loquan, President of National Gas Company of Trinidad and Tobago.

Discussions included Methanex’s fleet of 30 methanol-powered marine vessels and their leadership role in using methanol as a fuel for shipping.

“We also discussed the potential of Trinidad and Tobago as a bunkering port for the supply of methanol as more international ships look for cleaner sources of fuel. Methanex’s investments in Trinidad and Tobago and their continued commitment to our country as an important part of their global business was also a substantial part of our discussions,” Young added.

The Minister said parties ended the meeting by confirming mutual intentions to continue their cooperation and close working relationship.

On Tuesday, the Minister attended the LNG2023 conference in Vancouver where he met with Cederic Cremers, Executive Vice President, LNG at Shell.

Young said several issues related to Shell’s business in Trinidad and Tobago were discussed.

This included the restructuring of Atlantic LNG which is at the stage of settling the material definitive agreements and Shell’s progress with the Manatee field. The ongoing discussions and negotiations with respect to the development of the Venezuelan Dragon gas field and Shell’s operations in Trinidad and Tobago were also discussed.

The Minister said he was informed of Shell’s plans for executive leadership change in Trinidad and Tobago with the pending departure of Eugene Okpere. Okpere is being promoted to Executive Vice President, Exploration, Strategy & Portfolio effective November 1, 2023.

The Minister and the Shell Executive Vice President are participating in a key plenary panel discussion - “Growth of LNG Through Innovative Partnerships and Cooperation” at LNG2023 on Wednesday (July 12).