Uncertain Future of Trinidad and Tobago’s Dragon Gas Deal with…

Acting Prime Minister Stuart Young cannot guarantee the sustainability of the Dragon gas deal with Venezuela following U.S. policy changes. He emphasizes the deal’s importance for Trinidad and Tobago’s energy security and economy. Young engages with U.S. officials and energy companies to clarify its potential impacts and stresses the need for continued diplomatic relations despite political critiques. The government is also exploring diversification in its energy portfolio.

Acting Prime Minister Stuart Young has expressed uncertainty regarding the sustainability of the Dragon gas deal with Venezuela. Following a significant decision by U.S. President Donald Trump to revoke licenses allowing Venezuelan oil exports to the U.S., Young affirmed his commitment to advocating for Trinidad and Tobago’s interests. He emphasized the gas deal’s importance for the nation’s energy security, health care, and education by stating the gas supply expected by 2027 is crucial to securing foreign exchange and paying national bills.

In response to the U.S. actions, Young engaged with officials from the United States Embassy in Trinidad and Tobago, along with representatives from Shell and BP, to gain insights into the potential impacts on Trinidad and Tobago. He acknowledged the unpredictable nature of future U.S. government decisions, but at present, there has been no indication of negative repercussions from Trump’s announcement. Young condemned the Opposition Leader Kamla Persad-Bissessar’s critiques and reinforced that the gas deal benefits all citizens, not just political parties.

While addressing inquiries about financial transactions linked to the Dragon deal, Young clarified that Trinidad and Tobago has a 30-year commercial agreement with Venezuela, specifically relating to the Dragon gas field. He reiterated that significant payments to Venezuela would only commence once gas production begins. Young confirmed that payments had occurred but refrained from disclosing specific amounts, as they were handled by Shell and the National Gas Company.

Following speculative claims about the Venezuelan government’s response to local political discourse, Young reported that there were notable concerns during past dealings. He emphasized that insulting foreign leaders such as President Maduro damages diplomatic relations and potentially poses risks to Trinidad and Tobago. Should the U.S. terminate licenses for the gas deals, Young reiterated that the government would remain engaged in discussions to safeguard national interests.

Young highlighted the collaboration with Shell and BP as beneficial, especially considering these companies’ resilience in conflict-affected regions. He expressed optimism about the future, stating that Trinidad and Tobago is fortunate to partner with Shell, the largest LNG trader globally. He indicated plans for diversification in the energy sector, adding that opportunities exist within the Loran-Manatee gas field, which could complement the anticipated contributions from the Dragon deal.

In summary, Acting Prime Minister Stuart Young has articulated significant concerns regarding the Dragon gas deal with Venezuela in light of U.S. policy changes. He pledges to fight for Trinidad and Tobago’s interests and underscores the strategic importance of the gas deal for the nation’s energy security. Despite the challenges posed by external political pressures, Young maintains a commitment to diplomacy and collaboration with key international partners to safeguard Trinidad and Tobago’s future.

Original Source: trinidadexpress.com