03/24 Closing prices / revised 03/27/2023  09:05 GMT  |    03/24    OPEC Basket      74.60  -1.28 |    03/24    Mexico Basket (MME)   $59.02  -0.85  | 03/23     Venezuela Basket (Merey) $60.00  (Estimated EnergiesNet)  | 03/24     WTI Texas Intermediate  May CLK23  $69.26   -0.70 | 03/24    Brent May   BRNK23  $74.99  -0.92  | 03/24    Gasoline April RBJ23    $2.5885    -0.2%    03/24    Heating Oil  April HOJ23   $2.6952   +0.4%   |  03/24   April  Natural Gas  NGJ23  $2.216    +2.9%    03/24  Active U.S. Rig Count (Oil & Gas)    758  +4 | 03/27   USD/MXN Mexican Peso   18.3872  Live data  | 03/27     EUR/USD    Live data     1.0767  Live data  | 03/27   US/Bs. (Bolivar)      $24.40160000  (BCV)    |  

T&T Energy Minister: Kevin Ramnarine clueless about Dragon deal – Newsday TT

Energy Minister Stuart Young.
Energy Minister Stuart Young.

Ryan Hamilton-Davies, Newsday T&T

EnergiesNet.com 01 31 2023

Responding to former energy minister Kevin Ramnarine saying the revived Dragon gas deal may take as much as four years before gas arrives in TT, Energy Minister Stuart Young said Ramnarine knows nothing about the issue.

“Kevin Ramnarine is a failed minister of energy,” Young said.

“His mismanagement of the country’s gas sector left NGC with over $9 billion in claims. He never negotiated a gas supply contract, and left NGC rolling month-to-month contracts with off takers.

“He has no clue about Dragon and its development, and certainly is not an authority on how it will be produced. It is premature at this time to state timelines, save to say that the granting of the OFAC license is monumental and great for Trinidad and Tobago. As we can provide more specifics we will.”

Young was responding to questions coming out of Ramnarine’s statements in Thursday’s Newsday.

Saying TT may have to wait three to four years before gas is received from the Dragon field, Ramnarine opined a lot still has to be done before the gas gets flowing.

“One is the commercial arrangement between Shell, the National Gas company (NGC) and the Venezuelan government. That in itself will take time to negotiate.”

He added that getting a project to a final investment decision is also time consuming and could take years to complete.

On Tuesday the Prime Minister announced that the US gave an exemption from sanction to TT to produce gas from the Dragon gas field.

newsday.co.tt 01 29 2023

Share this news
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.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top