Doubt raised over Venezuela Dragon Field development

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Doubt raised over Venezuela Dragon Field development

Former Trade Minister Mariano Browne is pouring doubt on the development of the Dragon gas field in Venezuela.

Venezuela currently faces sanctions from many countries including the United States but T&T was given a waiver by the US to develop the field with Venezuela.

However Mr Browne noted that the average energy project lasts at least 10 to 15 years and any progress in the Dragon Gas will be subject to the US extending its waiver which is not a surety.

Mr Browne told Power 102 Digital that the two year waiver given by US authorities is simply an opportunity but not necessarily feasible as no company will invest in an energy deal which is yet to be developed and subject to sanctions.

He noted that the project will cost hundreds of millions and its continued feasibility is questionable.