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PORT OF SPAIN, Trinidad and Tobago, May 8, 2020 (CMC) – Proman, the Switzerland-based company that is involved in natural gas-derived products and services, says it is suspending operations at one of its plants in Trinidad and Tobago, as it reels from the economic fallout, occasioned by the global coronavirus (COVID-19) pandemic.
In a statement, the company — which describes itself as a “multi-asset, multi-regional, diversified energy producer, with methanol and fertilizer production facilities in Trinidad and Tobago, the United States and Oman, and we are currently expanding into Mexico” — said the combined pressures of the global downturn and the high natural gas-pricing environment in Trinidad and Tobago, have created significant challenges that will impact the entire value chain.
“While we have been working, hard, to manage these conditions and protect our business and our employees…our M3 plant has been idled, since mid-April, with further potential shutdowns in the weeks ahead, if the situation remains unchanged.”
The company is calling on the Trinidad and Tobago government to temporarily decrease the price for natural gas, in order to keep the industry afloat, during the COVID-19 pandemic.
“Together with other downstream producers, we are working, closely, with NGC (National gas Company) and GORTT (Government of the Republic of Trinidad and Tobago), via the Roadmap to Recovery Committee, to try to secure the critical, short-term, relief-pricing measures required to stabilise the sector,” it said, adding that it is currently considering reviewing its investments.
The move, by Proman, comes as several other companies in the energy sector have announced moves to temporarily suspend their operations.
Nutrien Ltd. has said it has temporarily suspended operations of its second-largest ammonia production facility in the country, at Point Lisas, along the country’s west coast.
But speaking in the Senate, on Wednesday, National Security Minister, Stuart Young, deputising for Energy Minister, Franklin Khan, said the plant is being put in an “idle format for 90 days”.
“We continue to monitor; there’s a lot happening globally. Nutrient has said they have absolutely no intention to shut down the plant. So at the 90 day period, let’s see what happens,” Young said.
Nutrien Ltd. said its other three ammonia plants will continue their operations.
