T&T Guardian
PORT SPAIN
EnergiesNet.com 01 26 2023
The Energy Chamber of T&T says it welcomes the US government’s granting of a waiver for this country to be able to develop the Dragon Field.
Prime Minister Dr Keith Rowley, speaking during a media conference yesterday, announced the US government’s approval for T&T to develop the Dragon Gas Field, which lies just about 17 kilometres across the border from our active Hibiscus platform.
“What this means is that the restrictions on the Dragon Gas Field development is now relieved and all relevant parties can progress the plans to result in natural gas from Venezuela eventually flowing from these proven reserves to T&T then onto Caribbean, European and other markets, bringing much humanitarian benefits to the Venezuelan population and greater energy security to the Caribbean region,” Rowley stated.
In an almost immediate response, the Energy Chamber of T&T lauded the move.
“The Energy Chamber of T&T welcomes the news of the granting of the US Treasury Department OFAC waiver of the sanctions that have been preventing T&T from working with PDVSA on the export of natural gas,” the Energy Chamber said.
“This presents a major opportunity for T&T to begin the importation of natural gas from Venezuela,” it added.
This issue was a major topic of discussion at the ongoing T&T Energy Conference and specifically, the panel discussion on Monday which looked at the integration of the southern Caribbean gas networks, it stated.
“The panel identified a major potential opportunity for T&T to become a gas processing hub for the vast natural gas resources in Venezuela and potentially other neighbouring countries,” the Energy Chamber noted.
Former Energy Minister Kevin Ramnarine also congratulated Rowley on the situation.
“I think it’s good news and congratulations to the Prime Minister for his diplomatic persistence. From my experience, these are very complex issues. I expect, however, that the journey to first gas has now started and a lot of work lays ahead for the NGC and the Government,” Ramnarine said.
“I expect that if all goes to plan, we should see first gas in three to four years. This would mark a new phase in our energy sector where we move to import natural gas. This has to be thought through carefully from a commercial and fiscal point of view but overall, the news would be welcomed for the plants at Point Lisas and the LNG business in Point Fortin,” he added.
guardian.co.tt 01 25 2023
