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Venezuela to Issue Gas Export License to Shell

NATURAL GAS

Venezuela will issue a license to Shell and Trinidad’s state-owned gas company for the export of natural gas to the Caribbean Island, according to Bloomberg.

  • The deal was signed in Caracas on the evening of Dec. 21, allowing Shell to import gas from Venezuela’s 4.2 TCF offshore Dragon field into Trinidad and Tobago.
  • Most of the gas will be converted to LNG and exported to international markets, while a smaller proportion will be used in the island’s petrochemical plants. Exports should begin by 2025.
  • Trinidad and Tobago’s Energy Minister Stuart Young has estimated that the field could start with an output of 175 mcm/d and reach 350 mcm/d.
  • Talks had previously stalled amid disagreements between PDVSA and Shell over projected gas prices into 2050.
Energy BulletsCommodities
Energy BulletsCommodities

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