PORT OF SPAIN, Trinidad, Apr 10, CMC – Prime Minister Kamla Persad-Bissessar Friday said that the state-owned National Gas Company of Trinidad and Tobago (NGC) has reported a profit after tax for the year ended December 31 last year of TT$3.285 billion (One TT dollar=US$).16 cents).
In a statement to Parliament, Persad-Bissessar described the NGC as “one of the crown jewels of our country” and the “most important of our state enterprises and the foundation of our economic survival and development”.
She told legislators that she had been provided with a copy of the unaudited financial statements of NGC for the calendar year ended 2025 and that the after tax profit ”is the highest profit recorded by the NGC group of companies in 11 years.
“The highest profit, as I say, recorded by NGC in 11 years. This is double the profit of the previous year,” she said, noting that the amount “ is not just a number.
“This is a clear demonstration of the enormous potential of Trinidad and Tobago when our national assets are properly managed, strategically guided, and allowed to operate with a transformational vision.”
Persad-Bissessar said that the NGC plays a central role in Trinidad and Tobago’s economic development and it is critical to combat revenues, foreign exchange earnings, downstream industrial development, job creation, and overall economic stability.
“When the NGC performs well, Trinidad and Tobago performs very well,” she said, noting that over the last decade NGC recorded losses in two out of the last five years when the People’s National Movement (PNM)formed the government.
She said that the company recorded an after-tax loss of TT$2.1 billion for the year ended December 2020 and again in 2023, when it reported an after-tax loss of TT$1.3 billion.
She said that the national gas company should never be allowed to deteriorate such inconsistent performance, uncertainty, and volatility ”caused by poor strategic decision-making and lack of prudent leadership” accusing the former government of lacking “a coherent vision for the energy sector” and lacking “the transformational leadership required to maximise the value of the national resources”.
Persad-Bissessar said that the after tax profit margin announced by the NGC comes at a time when the World Bank recently announced that Trinidad and Tobago is on a trajectory for growth in 2026 and with a greater up in growth in 2027.
“This record profit reflects not only improved market conditions, it also reflects a new approach, a transformational approach to governance,” she said, adding that it demonstrates what can be achieved through hard work, dedication and sacrifice.
“These results reflect strategic thinking, innovation, efficiency and a new way of doing business. Mr. Speaker, despite the noise, the figures speak for themselves. Facts are stubborn things”
She said that the results stand as a strong endorsement of the direction and approach adopted by the current board to the monetisation of hydrocarbons.
“A leadership we know must understand that our energy sector must evolve, must diversify, must compete globally in order to ensure that Trinidad and Tobago resumes its place as the energy capital of the Caribbean and Latin America.”
Meanwhile, the government also announced the declaration of a special interim dividend of TT$154.8 million from TTNGL into the economy of Trinidad and Tobago.
Persad-Bissessar said that in her first term as prime minister, her then coalition government had made the decision to offer the public an opportunity to make an investment in one of the most strategic companies in the domestic energy sector.
“We did this by way of an IPO whereby citizens were allowed to purchase shares in Trinidad and Tobago NGL Limited. We offered the public the opportunity to invest by way of an IPO in TT NGL, that sector of Phoenix Park Gas Processors Limited.”
She said the Trinidad and Tobago NGL Limited is a holding company that holds 39 per cent of the shares of Phoenix Park Gas Processors Limited. TT NGL is owned 75 per cent by the public and 25 per cent by NGC.
“Citizens of our country invested their savings, their retirement benefits, their future in this company. Institutional shareholders invested funds of their investors with expectation of maximum returns,” she said, noting that under the last administration, the share price collapsed from TT$30.50 per share to TT$2.40 per share, resulting in TT NGL shareholders losing 89 per cent of the value of their investments.
“The expectation of these innocent shareholders and institutional investors was that they would not be able to continue to invest in this company. We were disappointed,” she said, noting that an estimated 11,500 shareholders saw their investments “crumbled and was eroded to the point of almost nothing”.
But she said things have since turned around and that the market has reflected confidence in the new leadership of TT NGL because of their skill, qualifications and experience, coupled with decisions that they have made.
“The share price has increased by more than 300 per cent,” she said, adding that what this percentage mean in terms of real numbers is an increase in value to the shareholders of almost one billion dollars in TT NGL to the shareholders.
“I am very pleased to announce that this gain will accrue to the shareholders of TT NGL. On 9 April 2026, the board of directors of TT NGL Ltd declared a special dividend of one dollar per share to be paid to shareholders on 13 May 2026.”
Persad-Bissessar said that this marks the first dividend payment by TT NGL in almost four years and “is a deliberate effort by the current board to deliver long-awaited returns to over 11,500 shareholders.
“The dividend distribution will result in a direct injection, as I said, of TT NGL’s $154.8 million into the national economy. (The mandate of the current board was to make every effort to provide relief to the 11,500 shareholders, and today they have delivered.”
She said the the shareholders will be given the option to receive their dividends in United States dollars, adding “that is the policy of the company, and we will abide by the policy of the company.
“The shareholders invested in a company that does business in United States dollars. They invested in a company and expected a return on the investment to be in United States dollars. Today, we will fulfil what the mandate was.
“The declaration of this dividend represents the new approach of my government to the management of our country’s assets. Those assets belong to the people of our country. Among the institutions that will benefit, … will be National Enterprises Limited, National Gas Company of Trinidad and Tobago, National Insurance Board, the Union Trust Corporation, and Republic Bank.”
She said in addition to these, another 11,000 shareholders will benefit from this dividend.
“These two matters I have announced today, Mr. Speaker, is the boost that we are seeing in the energy sector. As we know, that is where we have our greatest competitive advantage in the energy sector. Whilst we try to do other things for the economy to grow, these are the crunches in the energy sector.
“And we are marrying that together, Mrs. Speaker, as I announced recently, with a mission to visit Venezuela to further our interests in terms of cross-border gas and oil, “Persad-Bissessar said, adding “so the energy sector looks really good”.
CMC/fh/ir/2026