04 /12 Closing Prices / revised 04/12 2024 21:59 GMT 04/11   OPEC Basket    $90.62 +0.24  | 04/11   Mexico Basket (MME)   $79.22   +0.60  | 02/12    Venezuela Basket (Merey)  $67.27  +0.77  | 04/11    NYMEX WTI Texas Intermediate May CLK24   $85.66  +0.64 | 04/11    ICE Brent June  BRNM24      $90.45  +0.71    | 04/11     NYMEX Gasoline May RBK24   $2.80   +.1%   |  04/11   NYMEX  Heating Oil May  HOK24   $2.69  +1 %   | 04/11     Natural Gas May NGK24    $1.77  +0.3% | 04/12    Active U.S. Rig Count (Oil & Gas)    617   -3  | 04/12    USD/MXN Mexican Peso  16.6441  (data live) | 04/12    EUR/USD    1.0643  (data live)  | 04/15      US/Bs. (Bolivar)   $36.29470000 ( data BCV)  

Trinidad PM: Venezuela-Trinidad gas project talks hit sticking point over terms – Reuters

Trinidad and Tobago's Prime Minister Keith Rowley (Lauren Justice/Reuters)
Trinidad and Tobago’s Prime Minister Keith Rowley (Lauren Justice/Reuters)

Curtis Williams, Reuters

HOUSTON
EnergiesNet.com 08 01 2023

Negotiations between Venezuela and Trinidad and Tobago to jointly develop an offshore gas field near the maritime border have hit a sticking point following Venezuela’s refusal to accept the terms of a U.S. license, the Caribbean nation’s Prime Minister Keith Rowley said on Thursday.

The United States in January issued a two-year license allowing Venezuela and Trinidad to jointly develop the Dragon field and supply Venezuelan natural gas to Trinidad, with oil major Shell expected to be the operator.

The authorization, however, bans any payments to Venezuelan President Nicolas Maduro’s administration.

“The Venezuelans have not accepted the terms laid down by the Americans. That is the long and short of it,” Rowley said in an interview on channel TV 6 in Trinidad.

Officials from both governments have met several times this year to further the negotiations. Trinidad’s energy minister Stuart Young asked Washington in recent months to amend some license terms.

Rowley did not disclose which terms have been refused by Venezuela. It is unclear if the United States is open to modifying the license.

The prime minister also said Trinidad fought hard to get the U.S. green light for the project, which included a waiver to negotiate with U.S.-sanctioned Venezuelan state company PDVSA.

“We eventually won that battle, but they put a condition on it, which the Venezuelans as of now have not accepted,” Rowley added.

Both sides have not suspended negotiations, Rowley said.

Dragon, on the Venezuelan side of the maritime border with Trinidad, holds up to 4.2 trillion cubic feet of gas. Trinidad needs the fuel to boost production and exports, while Venezuela hopes to gain a new source of revenue from the trade.

Trinidad and Tobago, Latin America’s largest exporter of liquefied natural gas, is not producing enough natural gas of its own to supply industrial plants, which has led to the suspension of a liquefaction train, and forced three others to operate below capacity. (Reporting by Curtis Williams in Houston; Editing by Marianna Parraga and Chris Reese)

reuters.com 07 27 2023

Share this news

Support EnergiesNet.com

By Elio Ohep · Launched in 1999 under Petroleumworld.com

Information & News on Latin America’s Energy, Oil, Gas, Renewables, Climate, Technology, Politics and Social issues

Contact : editor@petroleuworld.com


CopyRight©1999-2021, EnergiesNet.com™  / Elio Ohep – All rights reserved
 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission fromPetroleumworld or the copyright owner of the material.

 
 
Scroll to Top