Venezuela and Trinidad and Tobago study strengthening their energy cooperation

authorities of Venezuela and of Trinidad and Tobagoaccompanied by representatives of the Shell company, studied this Friday the strengthening of bilateral cooperation in energy matters, after both countries signed an agreement in September for the production of gas.

Through the social network energy cooperation between both nations, friendship and good neighborliness.”

The meeting was attended by the presidents of Shell in Venezuela and in Trinidad and Tobago, Alfredo Urdaneta and Adam Lowmass, respectively, said the also Minister of Economy, Finance and Foreign Trade, without giving further details about what was discussed.

Caracas and Port of Spain signed an agreement in September to promote the joint production of gas in the Dragon field, located in the waters of the Venezuelan state of Sucre (northeast), next to the northwest coast of Trinidad.

According to the Chavista Government, this agreement will allow “the introduction of technology and pipelines to start producing gas in Venezuelan seas” and, in this way, “generate resources, wealth” that will be invested in both nations.

Last October, the Trinidadian Government received a “full green light” from the US to develop the Dragon gas field with Venezuela and make payments in cash and kind to Caracas.

According to Minister Young, the license “will be valid for two years, until October 31, 2025, which is more than enough time.”

The official then announced that negotiations continue with Venezuela to agree on commercial terms, the price of gas and technical matters of deposit development.

Shell will operate the Dragon field and the gas will be taken to the Hibiscus platform for transmission to plants in Trinidad and Tobago, within a period that is expected to be less than two years.

(With information from EFE)