The Energy Chamber of Trinidad & Tobago warmly welcomes the rolling back of US sanctions on the activities of oil and gas companies operating in Venezuela, including both the major operator companies and service companies and contractors.
The revised sanctions regime offers a clear opportunity to quickly advance both the Dragon project, operated by Shell, and the cross border Cocuina-Manakin field operated by bp, with the T&T National Gas Company having a non-operator shareholding in both projects. This news offers positive medium-term outlook for gas supply and potentially a more secure future for the downstream gas industry in Trinidad. The development of offshore gas fields in Venezuelan waters close to Trinidad’s existing strong services sector also offers an existing potential for the local supply chain.
The Energy Chamber continues to advocate for the development of all potential sources of natural gas which can sustainably supply our gas-based industrial sector, and the pursuit of business development opportunities for our services sector.