Energy Minister, Stuart Young has signed a non-disclosure agreement with Venezuela’s state owned oil company PDVSA.
The signing took place on Tuesday, in his latest visit to Venezuela concerning the billion-dollar Dragon Gas project.
The agreement “governs the negotiations between the parties and the exchange of information as we progress the technical and commercial aspects of the planned development,” Young said in a media release.
The TT delegation included permanent secretary of the Ministry of Energy and Energy Industries Ms Pennelope Bradshaw Niles, president of NGC Mark Loquan, Trinidad and Tobago’s Ambassador to Venezuela Major General (Ret’d) Edmund Dillon, and other members from NGC’s executive.
Also present were senior vice president of Shell TT Eugene Okpere and other members of Shell.
The Dragon deal, if successful, will give TT access to the field said to be holding about 4.2 tscf (trillion standard cubic feet) of natural gas. The project will be able to feed an approximated 150 mscf/day (million standard cubic feet per day) to TT.