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Venezuela, Trinidad To Move Forward On Gas Project After Granted License

NATURAL GAS

The governments of Trinidad and Venezuela have plans to move forward to jointly develop the Dragon gas field after the US granted a license to develop the field in late January, Trinidad’s Prime Minister Keith Rowley said.

  • Shell, which produces in Trinidad, could operate the Dragon gas field in Venezuela if President Nicolas Maduro's government extends it a license. Shell is expected to provide guidance soon on timing for first gas production from the project, Rowley said.
  • Talks between Trinidad and Venezuela are expected to begin in the coming days, according to sources.
  • The US has granted a license to Trinidad and Tobago to develop the Dragon gas field located in Venezuelan territorial waters in late-January. Trinidad expects to gain access to 350mcfd from the field.
  • PDVSA has found reserves of 4.2tcf in Dragon. The project was headed for production over a decade ago, but stalled over a lack of capital, partners, and US sanctions.
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