NGC and Point Lisas Nitrogen Limited have successfully concluded negotiations for the execution of a Gas Sales Contract.

According to NGC, this will govern the sale of natural gas to PLNL and is a critical step forward for both companies.

It says the execution of this GSC signals the commitment of both parties for the supply of gas under mutually agreeable terms.

It will also facilitate the continued operations of the PLNL plant at the Point Lisas Industrial Estate.

Commenting on the significance of this GSC, PLNL President Fitzroy Harewood said, it represents a new chapter in the life of the company.

NGC President Mark Loquan added that, “Achieving the right balance and ensuring we can satisfy the demands of all our stakeholders requires open discussion, flexibility and a constant focus on the big picture. I wish to thank the teams at PLNL and NGC for their equal dedication to the process and the achievement of a favourable outcome.”