Project Development Agreement Signing Ceremony for Integrated Polypropylene Complex
The National Gas Company (NGC), National Energy Corporation (NEC), and the Government of Trinidad and Tobago signed a Project Development Agreement with Dutch plastics and petrochemicals giant, Lyondell Basell Industries, and the German contractor Lurgi GmbH, for an integrated polypropylene complex on September 8, 2008 at The Hyatt Regency, Port of Spain
President NGC & President NEC signing agreement
The Project involves the production of 490 KT of polyolefins based on three world-scale plants, including a methanol plant and a methanol- to- propylene (MTP) plant. The Propylene produced by Lurgi’s MegaMethanol and MTP technologies will supply feedstock to a polypropylene plant based on LyondellBasell’s Spherizone Technology.

The event provided the framework which would govern the relationship between the parties in jointly evaluating the construction and operation of a fully integrated polypropylene complex in Trinidad and Tobago. The project is important for the country’s development since it will develop second and third derivative industries from natural gas.  The polyolefin industry is viewed as a building block for the expansion of the local plastics sector.
According to the Prime Minister of Trinidad and Tobago, the Honourable Patrick Manning, who was at the ceremony, the project would mean US$2.3 billion in investment in Trinidad and Tobago, which to date represented the largest foreign investment opportunity for the country.

Prime Minister T&T- Patrick Manning delivers feature address

Minister of Energy and Energy Industries Senator Conrad Enill also a speaker at the ceremony said that during the construction phases of the complex there would be jobs for at least 5,000 nationals. Start-up of the project was tentatively scheduled for 2012.

In January 2008, NEC had entered into a Memorandu, of Understanding with LyondellBassell Industries which included the basic details for the construction of a methanol plant, to be built exclusively to supply a methanol-to-propylene unit for the complex.