BNP Paribas Advises NGC in Raising US$200 MM for the Cross Island Pipeline Financing.

NEW YORK -- NGC Pipeline Company Limited ("the Company"), a subsidiary of The National Gas Company of Trinidad and Tobago Limited ("NGC") successfully completed financial close for the financing of a US$268 million Cross Island Pipeline (the "Project" or "CIP"). CIP, a 76.5 mile 56" diameter pipeline, one of the largest in the western hemisphere, is currently under construction and will transport gas produced off Trinidad's east coast from landfall at Beachfield in Guayaguayare to the fourth train at the Atlantic liquefied natural gas (LNG) complex at Point Fortin and other gas-based industries in Trinidad and Tobago on the south west coast.

The pipeline was funded by US$200 million of debt arranged by a club of four banks, including Calyon, ING, Mizuho and SMBC (Sumitomo) and US$68 million of equity. The club-led Senior Secured Credit Facilities consisted of a US$200 million 1-year Construction + 15-year Term Loan. This transaction was project-financed on the basis of 20-year firm transportation agreement term sheets, entered between the Company and the credit-worthy owners of the liquefaction facilities.

The Project is consistent with NGC's strategy of developing Trinidad and Tobago's gas-related infrastructure. BNP Paribas currently acts as NGC's Financial Advisor in relation to several projects that are part of NGC's general capital expenditures program.

About BNP Paribas

BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United Sates and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking.

BNP Paribas provides a full array of financial products through a portfolio of brands that cover a variety of distribution channels. With offices in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered NASD broker-dealer and member of SIPC, BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products