Government has secured a licence to proceed with the extraction of natural gas from Venezuela’s Dragon gas field.
Prime Minister Dr Keith Rowley and Energy Minister Stuart Young, both shared updates on their respective social media platforms on Thursday evening, showing Young at a signing ceremony.
The PM said: “We have secured the licence to the Dragon gas field!
“Yes, in the spirit of good neighbourliness, the dragon can dance.
“Congratulations to the people of Venezuela and the people of Trinidad and Tobago, a door to a new commercial frontier has been opened for the benefit of all our people.”
Young stated: “Historic moment as the Bolivarian Republic of Venezuela has granted the licence for the Dragon Gas Field to NGC and Shell to develop and produce gas for export to Trinidad and Tobago. This is a huge win for the people of Venezuela and Trinidad and Tobago. I am humbled and privileged to have played a key role in making this a reality.”
The deal is a partnership between the National Gas Company (NGC), Royal Dutch Shell and Venezuela PDVSA.
Trinidad and Tobago was granted an exemption from sanctions by the US government to proceed with a commercial arrangement with Venezuela to access natural gas.