Phoenix Park Gas Processors Limited (PPGPL) ended 2024 with a strong financial performance of approximately 136% growth in profit after tax from 2023. Despite a dynamic energy environment, and various challenges, PPGPL’s strategic focus on operational excellence and disciplined execution, supported by a robust safety culture and innovative team, yielded these positive results. Key drivers included optimizing gas throughput and efficiency, enhancing NGL yields, rigorous cost control, and leveraging favourable market conditions.

 

PPGPL’s North American subsidiary, Phoenix Park Energy Marketing LLC (PPEM) also supported thisperformance with 21% volume growth and ongoing resilience strategies. These achievements reinforce thecompany’s commitment to strengthening its core, pursuing strategic goals, and investing sustainably, confirmingPPGPL is moving firmly in the right direction.

 

Since its inception, PPGPL has maintained a strong business model, consistently achieving profitability. In 2024,the company delivered a total of 775,199 barrels of LPG to local customers with 3,810,238 barrels sold to theregional markets, maintaining a reliable supply of cooking gas to homes across Trinidad and Tobago and theCaribbean. Significantly contributing to the company’s revenue was the sale of 2,001,335 barrels of naturalgasoline product to the international market. Overall, these results were positively impacted by 17% improvedproduction and 10% improved product prices. 

 

In executing its business strategy, PPGPL continues to maximize the value of the country’s natural gas resourcesthrough its dedication to excellence in process plant operations, safety and sustainability. The Pt. Lisas Trinidadbased company is energized daily by its purpose of “creating sustainability for current and future generations ofTrinidad and Tobago.” PPGPL’s business with a purpose philosophy is a key driver to its performance. 

And so, PPGPL has purposefully invested in value-adding growth strategies along the NGL value chain, bothlocally and internationally. Its US-based subsidiary, Phoenix Park Energy Marketing (PPEM), embarked on astrategic expansion project to boost its loading capacity at Hull Terminal from 28 railcars per day in 2023 to animpressive 44 railcars per day in 2024. This expansion translates to a remarkable capacity of approximately 500million gallons of natural gas liquids (NGLs), with a capital expenditure of US$7M. To further strengthen itsposition, PPEM continued its product and service diversification in 2024, as part of its strategy to mitigateagainst price and demand risk.

PPGPL’s flexibility and sustainability will continue to manifest value for its shareholders and the people ofTrinidad and Tobago through sound leadership driving operational, governance and financial decisions, whilethe company navigates the volatile world of energy. 

 

For more information contact:

Elsa Lara-Joseph

Head, Brand and Communications

elsa.lara@ppgpl.co.tt

www.ppgpl.com