NGC has bounced back into profitability, recording an after tax of $1.6 billion for 2024.
Gross profit amounted to $4.9 billion for 2024, as compared to $1.8 billion for the same period in 2023, marking a $2.9 billion turnaround from last year’s $1.3 billion loss.
Despite the improvement, Chairman Gerald Ramdeen warned that cash flow is under pressure due to the $6.3 billion owed by T&TEC and a $145 million impact from the Niquan plant shutdown..
Key highlights for the year included the restructuring of Atlantic LNG Trains 2 and 3, with NGC shipping its first LNG cargo in October, and strategic upstream acquisitions in blocks like Charuma and Cipero.
