Jamaica’s Cabinet has approved the formation of the Jamaica Gas Trust, which will take the commercial lead on the country’s maiden LNG import project.
JGT will be “the contractual focal point of the LNG project”, the government said.
It will oversee major commercial deals, including supplies, a terminal use agreement, send-out gas sales and pipeline transportation.
A placement agent will now be tasked with capitalising the trust with $100 million of cash investments from private investors, in addition to a similar amount of credit support from regasification customers.
Jamaica’s LNG steering committee, which is developing the project, has also issued a draft gas sales agreement to the proposed terminal’s foundation end-users, which should be finalised over the coming months.
The government is aiming to...
