Trinidad PM Raises Alarm Over Venezuela Gas Deal Risks

Trinidad and Tobago’s Prime Minister Dr. Keith Rowley has warned that the Dragon gas deal with Venezuela is critical for the nation’s economy. He expressed confidence in current agreements but cautioned about potential risks if U.S. sanctions are enforced or if Venezuela restricts gas access. Rowley emphasized the need for strong leadership and public support for these energy initiatives to avoid economic calamities.

Trinidad and Tobago Prime Minister Dr. Keith Rowley has issued a cautionary statement regarding potential issues arising from the Dragon gas deal with Venezuela. He expressed confidence in the nation’s agreements but noted that a revocation of the United States’ license or Venezuela’s refusal to allow gas access could lead to significant economic consequences. This warning was made during a ceremony marking the completion of the Port of Spain General Hospital’s Central Block.

Rowley emphasized the importance of gas revenues to maintain critical public services such as hospitals and schools. He addressed recent opposition claims of the Dragon gas project’s failure, encouraging the public to support the initiative. He pointed out the urgency of energy deals, as the country’s native gas reserves are depleting, and emphasized the risks associated with local dissatisfaction regarding the deal.

The Prime Minister highlighted the achievement of securing Venezuela’s consent for Trinidad and Tobago to extract gas amid a complex geopolitical backdrop, stating that sanctions could fundamentally destabilize the national economy. He urged that strong leadership and mutual respect in business dealings are essential for the country’s future, warning that the loss of the OFAC license or access to the Dragon gas field would indicate dire trouble ahead.

Rowley also raised concerns about the future of Trinidad and Tobago should these energy ventures fail, questioning the country’s position in the face of declining gas supplies. He recalled the significant allocation of public funds in the national budget aimed at subsidizing essential services for those without income. He warned that without sustainable revenue from energy, these crucial services could be jeopardized, even mentioning that financial aid from the IMF would come with stringent conditions, including subsidy removals.

In summary, Prime Minister Dr. Keith Rowley has raised serious concerns about the volatility of the Dragon gas deal with Venezuela, indicating that any deterioration could significantly impact Trinidad and Tobago’s economy and public services. He has called for unity in supporting this vital energy initiative and has articulated the challenges posed by depleting local gas reserves. The Prime Minister underscores the need for sustainable revenue to maintain governmental services and warns against the complexities of international relations affecting domestic welfare.

Original Source: www.stabroeknews.com