Uncertainty Surrounds Dragon Gas Deal as Acting PM Engages Stakeholders

Acting Prime Minister Stuart Young declared that he cannot assure the sustainability of the Dragon gas deal with Venezuela after recent U.S. policy shifts. He highlighted the importance of engagement with U.S. and Venezuelan officials to protect Trinidad and Tobago’s interests. Young confirmed ongoing payments related to the gas deal and outlined the need for diversification in the energy sector.

Acting Prime Minister Stuart Young has stated that he cannot guarantee the longevity of the Dragon gas deal with Venezuela, emphasizing the necessity to secure Trinidad and Tobago’s interests. Following a recent announcement from U.S. President Donald Trump, who revoked the license permitting Venezuelan oil exports to the U.S., Young immediately engaged with officials from the U.S. Embassy and energy companies to ascertain the implications for Trinidad and Tobago.

Young recognized the importance of the Dragon gas deal for Trinidad and Tobago’s energy security and its ramifications for regional stability. He asserted that predicting future decisions from the U.S. government is challenging and reiterated the need for proactive engagement with relevant stakeholders. Young expressed that the anticipated gas supply would be vital for the country’s foreign exchange and public services.

Addressing queries on the financial relationship with Venezuela, Young confirmed Trinidad and Tobago holds a 30-year commercial agreement. While payments have been made related to the Dragon gas field, he clarified these transactions do not equate to funding the Maduro regime. Young emphasized the customary nature of such payments in the oil and gas sector.

Furthermore, Young comfirmed he had been in recent communication with Venezuelan leadership, responding to criticisms from the Opposition. He condemned attacks on Maduro and articulated the importance of maintaining diplomatic relations, warning that antagonistic behavior could jeopardize future opportunities. Young reassured citizens of his commitment to advocate for Trinidad and Tobago regardless of geopolitical developments.

The Acting Prime Minister noted T&T’s collaboration with Shell and BP, stating that both companies are key players in the international energy market. He expressed optimism regarding future production levels, while also clarifying the government’s plans for diversification to reduce reliance on the gas sector alone. Young asserted that requests for high-level meetings with U.S. officials will be made in due time as part of ongoing diplomatic efforts.

In summary, the future of the Dragon gas deal with Venezuela remains uncertain amidst changing U.S. foreign policy. Acting Prime Minister Stuart Young highlights the need for vigilance and proactive engagement with both U.S. and Venezuelan officials to protect Trinidad and Tobago’s interests. His commitment to advocating for the nation was reinforced by recent developments and continuous partnerships with energy companies. The government is also exploring diversification strategies to bolster the economy further.

Original Source: trinidadexpress.com