PORT OF SPAIN, Trinidad, 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 that it is critical to combat revenue losses, boost foreign exchange earnings, support downstream industrial development, create jobs, and maintain 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 maximize 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 for a greater increase in 2027.
“This record profit reflects not only improved market conditions, but 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 the results stand as a strong endorsement of the direction and approach adopted by the current board for monetizing hydrocarbons.
“A leadership we know must understand that our energy sector must evolve, must diversify, must compete globally to ensure that Trinidad and Tobago resumes its place as the energy capital of the Caribbean and Latin America.”
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