Trinidad and Tobago granted a licence to negotiate with Venezuela
US approves Trinidad-Venezuela Dragon talks
The gas field could help Trinidad and Tobago sustain its LNG industry
The US Treasury has granted Trinidad and Tobago a licence to negotiate with Venezuela to develop the Dragon gas field in the latter’s waters. The island nation hopes access to Venezuelan gas will help offset declining domestic production and shore up its LNG output, but hurdles remain over payment. Dragon holds approximately 5–10tn ft³ (141.6–283.2bn m³) of gas, Stuart Young, Trinidad’s minister of energy and energy industries, told state-owned broadcaster TTT. The field’s resources have been “proven” by historical Venezuelan exploration, including the drilling of three wells at Dragon, the minister continued. FIG.1: TRINIDAD'S GAS OUTPUT Gas output, mn ft³/d LNG production, mn m³
Also in this section
11 March 2025
Direct air capture is still in its infancy, but organisations are seeking to leverage global collaborations and AI to discover new materials, with an aim of scaling up the technology and cutting costs
11 March 2025
Iran, Iraq, Venezuela, Nigeria and Kazakhstan all add significant volumes as core OPEC-9 feels the strain of compliance
11 March 2025
Investor certainty key to diversifying country’s oil and gas exports amid fresh talk of improving infrastructure to boost energy security
10 March 2025
Oil sands will be complemented by conventional and shale output growth and supply opportunities improved by the Trans Mountain Pipeline, but the tariff threat remains
