National Energy Corporation of Trinidad and Tobago Limited (NEC) was incorporated in 1979 to continue the work first started by the Coordinating Task Force in monetising the country’s natural gas resources and developing and managing industrial and marine infrastructure. NEC was involved in the construction and operation of the early petrochemical plants and the port and marine infrastructure which service all plants at the Point Lisas Industrial Estate.

In 1999, NEC [a wholly owned subsidiary of the National Gas Company of Trinidad and Tobago Limited (NGC)] became an independent entity within the NGC Group of Companies, with a mandate “to develop and manage suitable infrastructure in order to facilitate and promote the various activities relevant and appropriate to natural gas-related operations.”

In February 2004, NEC’s mandate was further expanded to include the facilitation and promotion of natural gas-based development. NEC’s mandate can be summarized as follows:

• The conceptualization, promotion, development and facilitation of new energy-based and downstream industries in Trinidad and Tobago;
• Identification and development of new industrial estates;
• Identification and development of new industrial deep water ports to facilitate these estates;
• Ownership and operation of marine and other infrastructural assets to facilitate all gas-based petrochemical and metal plants;
• Development and management of La Brea Industrial Estate and Union Industrial Estate;
• Towage and harbour operations;
• Sustainable management of the environment.
  

In May 2010, Methanol Holdings Trinidad Limited (MHTL) commenced production of Melamine from its AUM1 plant, located in Point Lisas. The availability of Melamine on the local market finally gives T&T an opportunity to diversify its economy by developing energy based manufacturing industries.