Trinidad and Tobago could be positioned to play a central role in the monetisation of new gas resources from Venezuela, following BP’s recent memorandum of understanding with the Venezuelan government for the exploration of natural gas in the Loran offshore area.
Minister of Energy and Energy Industries, Hon. Dr Roodal Moonilal said the agreement signals renewed momentum around cross-border gas development, but does not change the commercial reality that gas from Venezuelan fields will likely require Trinidad and Tobago’s existing infrastructure to be brought to market. According to the Trinidad Guardian, the Minister said the development of the cross-border Manakin-Cocuina field remains a significant project in the country’s medium-term energy outlook.
The Manakin-Cocuina field straddles the maritime boundary between Trinidad and Tobago and Venezuela. On the Trinidad side, BP operates the acreage as Block 5b, while Cocuina forms part of Venezuela’s Deltana Platform. Reuters reported that BP’s recent agreement with Venezuela formalised the launch of gas development at Cocuina-Manakin and also included the exploration of joint opportunities in the Loran gas field.
Moonilal said the Manakin-Cocuina project is anchored by cooperation with the United States Government, with licences already secured to proceed. He said the administration is now focused on accelerating timelines, in continued engagement with bpTT, to bring gas to market as quickly as possible. Substantial investment is expected from 2027, with first gas to follow, according to the minister.
Once operational, the project is expected to add meaningful volumes to both the domestic market and the LNG sector, improving utilisation rates across existing plants. Moonilal also said additional gas supply would benefit the petrochemical sector, supporting higher production of ammonia and methanol and contributing to export revenues.
National Gas Company chairman Gerald Ramdeen also confirmed that discussions on cross-border gas projects are already advancing. Speaking after the signing of a new natural gas supply contract with EOG Resources Trinidad Ltd, Ramdeen said bpTT officials from London recently held talks at NGC on the Manakin-Cocuina field. He added that work across key fields, including Dragon and Loran-Manatee, is progressing with the involvement of NGC, bpTT and Shell.
Ramdeen also addressed concerns that increased access to Venezuela’s energy sector could create more competition for Trinidad and Tobago. He said the fundamentals remain unchanged, pointing to T&T’s pipeline network, LNG facilities and offshore infrastructure as critical assets in the regional gas value chain.
The Loran-Manatee field is another major area of focus. Reuters reported in April that Shell plans to begin natural gas output from Manatee in 2027, with the field crossing the maritime boundary between Venezuela and Trinidad and Tobago. Loran is estimated to hold 7.3 trillion cubic feet of gas reserves, while Manatee has estimated reserves of 2.7 trillion cubic feet. Shell has also increased the planned pipeline capacity to bring gas to Trinidad’s Beachfield facility from 700 million cubic feet per day to 1 billion cubic feet per day.
For Trinidad and Tobago, the latest developments reinforce the strategic importance of cross-border gas as the country seeks to strengthen supply for LNG and petrochemical production. Reuters reported earlier this year that BP was seeking approval from the U.S. government to develop the Manakin-Cocuina gas field, with the company aiming to bring more than 1 trillion cubic feet of gas to Trinidad for LNG export.
The renewed movement around Manakin-Cocuina, Loran-Manatee and Dragon points to a broader regional opportunity for Trinidad and Tobago. While regulatory approvals, commercial agreements and project timelines remain important factors, the country’s existing energy infrastructure gives it a strong position as companies look to develop and monetise gas resources near the maritime border with Venezuela.