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Free AccessRenewal of US Sanctions on Venezuela Has No Impact on Dragon Field Plans
The renewal of US sanctions on Venezuela does not impact development plans for the Dragon natural gas field.
- The field targets production of 350mcf/d, flowing gas to Trinidad for LNG export.
- The Trinidad and Tobago Ministry of Energy and Energy Industries said this week that the amended OFAC General Licence 44 does not affect the Specific Amended OFAC licence issued in October 2023.
- Colombia has been looking to the US to receive its own special OFAC licence to import pipe gas from Venezuela but the impact of the re-imposition of 44A remains unclear according to ICIS.
- Ecopetrol aims to import from PDVSA later this year to help manage the country’s current high gas and LNG demand due to low hydropower output.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.