January 24, 2023

US Gives Trinidad & Tobago Green-Light To Develop Dragon Field Shared With Venezuela

By Newsroom

Prime Minister Dr. Keith Rowley has hailed it a “happy day: for the region, as the United States government on Tuesday granted a license to Trinidad and Tobago to develop the Dragon Gas Field located in Venezuelan territorial waters.

It marks a further easing of some US sanctions on Venezuela.

Back in 2020, it was announced that a 2018 US$1 billion natural-gas-sharing dragon deal arrangement between T&T and Venezuela had to be put on hold because of US economic sanctions.

At a news conference on Tuesday, PM Rowley said he applied for the license in mid-2022 and won approval after discussing it with top U.S. officials, including U.S. President Joe Biden and Vice President Kamala Harris, while also keeping open a channel of communication with Venezuelan President Nicolas Maduro.

The license is intended to enhance Caribbean regional energy security, as T&T now has permission to work with Venezuela’s heavily sanctioned state-run oil company PDVSA.

Prime Minister Rowley says Trinidad expects to gain access to 350 million cubic feet of gas per day from the Dragon field.

 

 

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