Trinidad’s NGC CNG Company Limited and Scotiabank Trinidad and Tobago Limited have signed an agreement to provide fuel cards to vehicle owners who switch to Compressed Natural Gas (CNG), signalling a growing push to build the national natural gas fuel market.
Part of the mandate of NGC CNG is to aggressively increase the demand for CNG as a vehicular fuel in tandem with the rapid expansion of the CNG fuel station roll out. NGC CNG is incentivizing selected high mileage market segments e.g. taxi, maxi taxi and school bus drivers to switch to CNG, upon which they will receive an incentive of free CNG to a particular value.
Signing on behalf of NGC CNG was President Curtis Mohammed while Anya M. Schnoor, Senior Vice President and Head, Caribbean South and East signed on behalf of Scotiabank. The signing took place at the offices of NGC CNG in Couva on June 8, 2017.
According to Curtis Mohammed, President NGC CNG this fuel card is key to increasing demand for CNG in Trinidad & Tobago. He said, “This agreement represent one of the foundation elements of our programs and now that we have signed, it’s a big step towards rolling out the incentives to the hundreds of drivers who we know will switch over to CNG.”
“Compressed Natural Gas (CNG) is a more environmentally friendly fuel, producing less undesirable gases in to the atmosphere. This partnership with NGC CNG is one of the ways Scotiabank is supporting its belief that every customer has the right to become better off. Through our support of this initiative we are helping customers to live in a better world, one that is less polluted and more environmentally conscious. Scotiabank remains deeply committed to playing a role in the shift towards a greener future.” Stated Anya M. Schnoor – Senior Vice President and Head, Caribbean South and East, Scotiabank.
NGC CNG currently has fuel incentives for Taxi drivers, Maxi taxi drivers and School bus drivers who convert their diesel or gasoline powered vehicles to CNG. Taxis will receive TT$5,000 (USD 740) in free CNG, Maxi Taxis can receive up to TT$30,000 and School buses up to TT$7,500 (USD 1,111). School bus drivers who purchase a new CNG vehicle can receive TT$15,000 (USD 2,222) in free CNG. Upon conversion of the vehicle, drivers can apply to NGC CNG and once successful a Scotiabank Fleet Card with the prescribed value will be issued.
NGC CNG expects to issue up to 15,000 fleet fuel cards over the next 2 years as well as have 30 CNG supply points available by the end of 2018.
The Scotiabank Fleet Card is a debit card for motor vehicles issued solely by Manufacturers Credit & Information Services on behalf of Scotiabank Trinidad and Tobago Limited. It is a magnetic card embossed and encoded with vehicle data and used on Point of Sale (POS) terminals located at Fleet Card merchants for the payment of fuel and automotive services. The Scotiabank Fleet Card service was introduced to Trinidad and Tobago in 2001 with the first transaction being processed at NP Morvant.
(Source: NGC CNG)