The Attorney General of Trinidad and Tobago, John Jeremie, has announced that the Department of the Treasury of the U.S. has granted the OFAC license to pursue the development of the Dragon gas field in Venezuela.
According to the Attorney General, the license was awarded after an application was made by the Government of Trinidad and Tobago and the National Gas Company in May.
The license authorizes U.S. persons, including employees, affiliates, contractors, and service providers employed by or acting on behalf of, or for the direct or indirect benefit of, the Government of the Republic of Trinidad and Tobago, the National Gas Company of Trinidad and Tobago Limited, Shell PLC, Futura Clara Limited, and their subsidiaries, affiliates, and contractors, to engage in transactions ordinarily incident and necessary to negotiations with the Government of Venezuela for 6 months initially.
The A.G. said further that: "The Ministry of the Attorney General, the Ministry of Foreign Affairs, and the Ministry of Energy, together with the National Gas Company, are now tasked with the responsibility to take the necessary steps to advance this project, which is important to the future development of our energy sector."
The Energy Chamber of Trinidad and Tobago extends congratulations to the Government on this achievement. The OFAC license allows the Government of T&T, along with state entities and private companies, to engage with Venezuela without being affected by sanctions. This means that the involved entities may resume work on commercial and technical terms over the next 6 months.
Photo caption: Shell Hibiscus platform
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