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T&T could earn 10 billion over next 9 years following signing deal with Royal Dutch Shell

1837107-1T&T could earn as much as $10 bil­lion over the next 9 years fol­low­ing the sign­ing of a deal be­tween gov­ern­ment and Roy­al Dutch Shell.


Energy Minister Franklin Khan who gave details to the parliament yesterday after more than a year of negotiations made the announcement.


Minister Khan re­vealed that Shell agreed to pay gov­ern­ment $2.5 bil­lion by the end of 2019, the mon­ey to be paid in US to the sum of us $397 mil­lion.


Like the BPTT pay­ment last year of $1 bil­lion, Shell is mak­ing its pay­ment but not ad­mit­ting to cheat­ing the coun­try of large sums of rev­enue in trans­fer pric­ing.


Minister Khan told the par­lia­ment, the out­come of these phase 1 ne­go­ti­a­tions, with Shell, re­sult­ed in an agree­ment to pay the gov­ern­ment approx­i­mate­ly, US$397m to the end of 2019 and the par­ties are mov­ing in­to phase 2 of the ne­go­ti­a­tions which sur­round the re­struc­tur­ing of Atlantic LNG.


In a de­tailed speech on the agree­ment signed in the Netherlands, Minister Khan told the par­lia­ment that over the next 9 years the coun­try will re­ceive im­proved rev­enue of $6.4 bil­lion from At­lantic’s trains 2,3 and 4 and should train 1 con­tin­ue to op­er­ate, could earn $800 mil­lion in ad­di­tion­al rev­enue an­nu­al­ly.

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