The longstanding partnership between Nutrien, the world’s largest upstream fertilizer producer, and Trinidad and Tobago (TT) is now at risk due to a financial impasse with the state-owned National Gas Company (NGC). The dispute, centered around a $610 million debt owed by companies using the Point Lisas port, has forced Nutrien to initiate a phased shutdown of its operations in the region. This development threatens not only the company’s future but also the livelihoods of hundreds of workers and TT’s reputation as a global leader in the petrochemical sector.
Nutrien, formed in 2018 through the merger of PCS and Agrium Inc., has been a key player in TT’s economy, leveraging the country’s natural gas resources to produce ammonia and urea for global markets. However, declining natural gas production, exacerbated by the COVID-19 pandemic, has strained operations. In 2020, Nutrien announced the indefinite closure of one of its four ammonia plants, and production levels have since fallen significantly from their peak.
Despite these challenges, Nutrien has shown commitment to TT, investing $130 million in 2024 for facility upgrades and maintenance. However, the recent shutdown announcement on October 21, set to take effect on October 23, has raised concerns among local business and energy chambers. The American Chamber of Commerce (Amcham TT) and the Energy Chamber have called for collaboration to resolve the issue, emphasizing the need to maintain TT’s attractiveness as an energy investment destination.
NGC’s subsidiary, the National Energy Corporation (NEC), has issued formal notices to companies with significant arrears, warning of suspended access to port facilities if payments are not cleared. NEC has also mandated that service tariffs be paid exclusively in US dollars, a move that has added to the financial pressure on operators.
Minister of Energy Roodal Moonilal confirmed ongoing discussions with Nutrien and other stakeholders, but no resolution has been reached. The shutdown’s potential impact on TT’s economy and employment has sparked calls for urgent negotiations to avert a crisis. As the situation unfolds, the fate of Nutrien’s operations in TT remains uncertain, casting a shadow over the country’s petrochemical ambitions.