Fabiola Zerpa, Bloomberg News
EnergiesNet.com 01 24 2024
Trinidad and Tobago sees more deals with Venezuela to import natural gas to feed its declining supply following a recent license to tap a former oil giant field.
There is an “open door” for the countries to develop more offshore gas fields that sit on mutual territories after Venezuelan President Nicolas Maduro issued a license so Shell Plc and Trinidad and Tobago can import from the Dragon project, Mark Loquan, president of Trinidad and Tobago’s national gas company, said in the sidelines of a conference in Port of Spain.
As its gas reserves decline, Trinidad and Tobago is rushing to secure more natural gas fields to meet demand. It is looking within its own waters and those shared with its neighbors.
The Dragon deal, which could see the countries exporting gas by 2027, involves transporting to Trinidad and Tobago’s Atlantic LNG plant via a Shell-owned offshore platform and could start with output of 175 million cubic feet per day and ramp up to 350 million cubic feet per day.
Read More: Maduro Says Venezuela, Trinidad Sign Deal to Share Gas Profits
“There is not only Dragon. There are other fields that are joined in Trinidad and Venezuela which can be taken further,” including Manekin-Cocuina and a PDVSA flaring gas capturing project, Loquan said.
Loquan said the license Venezuela granted will be published soon, offering the first public details of the project. Currently the countries are evaluating plans to inspect wells and build a 13-mile (21 kilometers) pipeline to Shell’s Hibiscus offshore platform in Trinidad’s territory.
In 2023, Trinidad and Tobago exported 8.4 million metric tons of LNG, 1% less than the previous year, according to data compiled by Bloomberg.
bloomberg.com 01 23 2024