TT and Venezuela to promote joint projects in the gaseous hydrocarbons sector

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TT and Venezuela to promote joint projects in the gaseous hydrocarbons sector

The Bolivarian Republic of Venezuela and the Republic of Trinidad and Tobago signed an inter-institutional agreement on Wednesday, which seeks to promote joint projects in the gaseous hydrocarbons sector.

In this sense, the president of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, expressed that this signature represents an act of strengthening bilateral relations between both governments.

“This signing today (Wednesday) and the project to work the Dragon Field in Venezuelan waters and start producing gas and leave together, Venezuela and Trinidad and Tobago and bring gas to the world is lost from sight as a message of peace, of complementarity, cooperation, solidarity, exercised and shared sovereignty, as a message of peace for the entire Caribbean, is something extraordinary,” he noted.

In context, he reiterated that the signing of this agreement strengthens cooperation for the security and energy sovereignty of the Caribbean. “Petrocaribe is coming back stronger now, because it is with its own efforts, step by step, little by little.”

Likewise, he highlighted that this agreement will allow the installation of pipelines with technologies to produce gas in Venezuelan seas, while pointing out that this agreement “is an immense message of peace and it will turn out well, it will generate resources, wealth to invest in our towns.”

He specified that Venezuela has been organizing gas blocks throughout the Caribbean, through internal legislation in accordance with what is established in the Constitution of the Republic, with the purpose of giving great advantages to investors “and we are ready to move forward with all the countries that want to invest, with all the companies in the world that want to invest.”

He confirmed that, thanks to the gas reserves in the Caribbean, Venezuela is positioned – according to studies and research – in fourth place in gas reserves in the world.
“We already have the first oil reserve in the world and we are recovering productive capacity and we are going to fully recover it, with our own efforts. Now we are opening investments at the highest level to advance in all gas blocks,” said the President.

For Venezuela, it was signed by the Minister of Popular Power for Petroleum and president of Petróleo de Venezuela (PDVSA), Pedro Tellechea, while, for the Republic of Trinidad and Tobago, it was signed by the Minister of Energy and Energy Industry, Stuart Richard Young.

The projects developed will be framed in the processes of the oil and gas industry, including those related to health, safety and the environment.

“We are going to produce gas together. Trinidad and Tobago and Venezuela, in a sovereign manner, is a powerful signal for the Caribbean (…) and sooner rather than later, convert all this gas, with the technology that you manage well, into wealth,” concluded the Dignitary.”