00:00The National Gas Company of Trinidad and Tobago's group acting president spoke about the state-owned midstream gas company's audited
00:07financial records for its 2025 financial year on the day before it was due to mark its 51st anniversary.
00:15On behalf of the presidents of the NGC group, I'm pleased to report that 2025 was a year of marked
00:22improvement when compared with 2024.
00:26The group delivered its highest profit after tax in more than a decade, recording Titi $3.46 billion, up from
00:41Titi $1.64 billion in 2024.
00:45This represents an increase of roughly $1.82 billion, or 111% from 2024.
00:53Energy Minister Dr. Rudolf Munilal also spoke at the NGC's event, which was held at the Hyatt Regency in Port
01:00of Spain.
01:01Final audited profit after tax was $3.46 billion, approximately $1.76 million higher than previously announced by the Honorable
01:13Prime Minister, the Honorable Kamala Passat-Bissessa, and more than double the $1.6 billion earned in 2024.
01:20This is not just an improvement, this is a transformation.
01:25NGC chairman Gerald Ramdean spoke about the wastage he said he met at the NGC.
01:29There was a private downstreamer that was doing business with the NGC, who had an informal overdraft for more than
01:39two years of over $100 million.
01:48And when I called in, the person responsible for that, and asked them, where did you get the authority to
01:56do that?
01:57You know what they said?
01:58I'm sorry, chairman.
02:01Sorry.
02:02Why the people of this country cannot get a $500 U.S. when they go to the bank?
02:09Among those who attended the NGC's event were Foreign and Caracom Affairs Minister Sean Sobers, Planning Minister Dr. Kennedy Sohat
02:16Singh, Finance Minister Davengeranath Tanku, and Central Bank Governor Larry Hawaii.
02:21You know that, Minister Finance, and Governor, you know the problem with foreign exchange.
02:25You had a private foreign company running an overdraft at the National Gas Company for over $100 million.
02:34That has come to an end.
02:37Chairman Ramdeen referred it to last year's general election on April 28, 2025, which saw the UNC and its coalition
02:43of interests defeating the PNM, which had been in office for 10 years.
02:49In opposition, the PNM has said that it laid the groundwork for the recent successes in the energy sector announced
02:58by the UNC-led government.
03:00If the wrong decision was made in April of 2025, there would be no NGC within the next five years.
03:12At the rate the NGC was being run and what was taking place, there would be no NGC for this
03:20country.
03:23I am honoured to have been given the privilege to lead this group with my group of directors, my board
03:31of directors.
03:32Both the Energy Minister and Chairman Ramdeen gave credit to what they say is the leadership of Prime Minister Kamala
03:39Passat-Bissassar.
03:41Jewel Brown, TV6 News.
03:43Jewel Brown, TV6 News.
03:45Jewel Brown, TV6 News.
03:46Jewel Brown, TV6 News.
03:46Jewel Brown, TV6 News.
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