09/21 Closing prices / revised 09/22/2023  09:26 GMT  |    09/21    OPEC Basket      95.01        –0.81|    09/21   Mexico Basket (MME)   $86.79  +0.01 06/23  Venezuela Basket (Merey) $57.37  + 1.15 ( from previous month)  (Est. OPEC)  | 09/21    NYMEX WTI Texas Intermediate  October  CLV23  $89.63     -0.03  | 09/21    ICE Brent November  BRNX23   $93.30   -0.23 | 09/21    NYMEX Gasoline October  RBV23    $2.62    +0.07   09/21    NYMEX  Heating Oil  October HOV23   $3.37     +1.2%   |  09/21    Natural Gas October NGV23    $2.84      -2.8%    09/15   Active U.S. Rig Count (Oil & Gas)    641      +9 | 09/22    USD/MXN Mexican Peso   17.1975    Live data  | 09/22      EUR/USD  1.0635    Live data  | 09/22   US/Bs. (Bolivar)      $33.9289000  ( data BCV)    |

Trinidad to begin negotiations for gas deal with Venezuela in March – Reuters

The installations of liquified natural gas producer Atlantic LNG are pictured in Point Fortin, Trinidad and Tobago, December 10, 2022. (Andrea De Silva/Reuters)

Curtis Williams, Reuters

Energiesnet.com 02 24 2023

 Trinidad and Tobago next month expects to formally begin negotiations with Venezuela on a promising offshore natural gas project, the Caribbean nation’s energy minister said on Thursday.

A deal would help revive the nation’s gas production, which contributes a large part of its export revenue and has been in decline. The joint venture could supply gas to Trinidad’s liquefied natural gas and petrochemical industry.

Energy Minister Stuart Young has traveled to Caracas twice to inaugurate the negotiations since the United States in January issued a license allowing the two nations to revive the Dragon gas field on the Venezuelan side of the maritime border with Trinidad. That project has been idled for over a decade.

Young is being assisted by a technical team, he told journalists on the sidelines of a media conference in Port of Spain. The minister met with Venezuela’s Vice President Delcy Rodriguez and Oil Minister Tareck El Aissami during his most recent trip

Trinidad hopes to speed up discussions on the terms of a partnership expected that would include Venezuelan state oil company PDVSA and British energy firm Shell (SHEL.L), which produces gas in Trinidad.

Among initial documents to be signed with Venezuela are confidential agreements that will protect the information shared by the parties, the minister said.

Progress achieved between the two nations since a set of agreements were signed in 2018 will allow the next phases to happen quickly, bringing the first gas imports “in a relatively short time,” Young said.

Young also plans to meet U.S. officials in Houston next month to discuss the license and the gas project, following a previous round of talks with the U.S. government in Bahamas, he added.

Venezuela has remained under U.S. oil sanctions since 2019.

Reporting by Curtis Williams, writing by Marianna Parraga Editing by Marguerita Choy

reuters.com 02 23 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