Introduction

In 1992 Cabot LNG, a relatively small Boston-based LNG importer and owner of the Everett LNG receiving terminal just north of Boston, approached the government of Trinidad & Tobago about developing a new LNG export project. Although three attempts had been made previously to develop LNG in Trinidad & Tobago, nothing had come of them and the government had largely concentrated on attracting intensive gas-based industries to the country. The industries had come but had not greatly prospered. Cabot's approach came soon after the government had decided to liberalize its economic policy; new sources of revenue were badly needed. Amoco and British Gas (BG) (both with significant gas prospects in Trinidad & Tobago) signed a memorandum of understanding (MOU) with Cabot, and the Trinidad & Tobago National Gas Company (NGC) to promote an LNG export project (Gas Matters 1993b). The group launched a feasibility study in 1993. Atlantic LNG, the JV company eventually set up to own and run the project, was formed in 1995. Cabot and Enagas of Spain pledged to purchase a total of 3 mtpa of LNG. Construction started in 1996. The first cargo (train 1), bound for Boston, was loaded at the end of April 1999. Design work and sales negotiations for a two-train expansion with a further 6.8 mtpa capacity (trains 2 and 3) were started in early 1999 and construction started in 2000. Train 2 started up in August 2002 and train 3 in May 2003.