Pan West’s only asset is a 10% interest in Phoenix Park Gas Processors Ltd. (“PPGPL”), a joint venture company organized under the laws of the Republic of Trinidad and Tobago. PPGPL’s core business is natural gas processing and natural gas liquids (“NGLs”) aggregation, fractionation, and marketing. The company operates Trinidad’s only natural gas processing and NGL fractionation plant and is the Caribbean’s largest producer and marketer of propane, mixed butane, isobutane, and natural gasoline. PPGPL generates revenue from three main activities: Extracting British Thermal Units (“BTUs”) from the NGLs in wet natural gas, fractioning NGLs into products, and retaining and marketing these products, fractioning NGLs supplied from Atlantic LNG Company of Trinidad (“ALNG”), and fractioning its mixed butane stream to produce isobutane and delivering it to Petroleum Company of Trinidad and Tobago (“Petrotrin”). The Company has recently started to focus its business development efforts around its product trading segment through acquisitions; in February 2020, PPGPL acquired Twin Eagle Liquids Marketing LLC, a company based in Houston, Texas which is engaged in the marketing, trading and transportation of NGLs in Canada, US, and Mexico.
Pan American Finance has been retained by Trinidad & Tobago Unit Trust Corporation (“UTC”) to render a valuation assessment of its 33.33% shareholding ownership in Pan West Engineers & Constructors, Inc. (“Pan West”) and its underlying asset, a 10.00% ownership interest in Phoenix Park Gas Processors Limited (“PPGPL”).