Trinidad and Tobago’s biggest private sector group, ANSA McAL, has claimed it was forced into a tough gas pricing deal after state-owned National Gas Company (NGC) hiked the natural gas costs for its Carib Glass subsidiary by 77% in January. In a letter, the company stated it was compelled to accept the revised contract in order to avoid damage to critical manufacturing equipment and potential job losses. ANSA McAL criticized the lack of negotiation from NGC, stating that the price increase could have wider negative economic impacts. Industry observers have warned that higher gas prices could drive up production costs and prices for local consumers.
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