WITH the US Office of Foreign Assets Control (OFAC) granting TT a waiver to explore the Dragon natural gas field in Venezuela, the Prime Minister said "happy" days are ahead for the country and Caricom region.
The US$1 billion deal was signed between TT and Venezuela in August 2018. Those involved included energy giant Shell, Venezuela’s state oil company PDVSA, and TT’s National Gas Company (NGC).
The Dragon deal would have seen TT developing the field which is estimated to produce approximately 150 million standard cubic feet of gas a day. The gas was supposed to be imported through a billion-dollar pipeline to the Hibiscus platform off the northwest coast of TT. The platform is jointly owned by the TT government, NGC and Shell.
The deal was left in limbo after the US imposed sanctions on Venezuela in 2019.
At a media conference on Tuesday, the Prime Minister said since then he led the charge to sway the US’ hand, lobbying not only for TT but for all of Caricom.
“The US Government has today approved TT development of the Dragon field via a waiver on sanctions with specific terms to be finalised,” he announced at the Diplomatic Centre, St Ann's
Dr Rowley said one of the terms of the waiver was that Caricom be given preferential treatment for greater energy security in the region. Cuba is not to benefit from this waiver as it still remains under sanctions by the US.
“Today is a significant and happy day for me and my team, the people of TT and the people of Caricom. This is a significant development with far reaching consequences.”
THANKS TO USA
Rowley then took the time to thank several world leaders including the US President and Vice President, Joe Biden and Kamala Harris, California Congresswoman Maxine Waters and politicians from both sides of the US political divide. He also thanked the prime ministers of Suriname, Chan Santokhi; Bahamas, Philip Edward Davis; Barbados, Mia Mottley; Antigua and Barbuda, Gaston Browne and President of Guyana Dr Irfaan Ali for assisting in the push for TT to explore the Dragon field.
In a media release on Tuesday, the US Embassy said the Vice President told Rowley that the Treasury Department would take action to help meet the region’s long-term energy needs.
[caption id="attachment_997592" align="alignnone" width="1024"] LET'S TALK GAS: Prime Minister Dr Keith Rowley, 2nd from right, as he met with Shell’s Executive Vice President Cederic Cremers, centre, at Whitehall on Monday. Also in photo are Energy Minister Stuart Young, right, Shell TT country chair Eugene Okpere, 2nd from left, and Anders Ekvall, Business Opportunity Manager, Shell TT. PHOTO COURTESY OPM - opm[/caption]
US Ambassador Candace Bond said: “Today we reinforce the closeness, strength, and depth of our over 200 years of friendship and cooperation. We share Trinidad and Tobago’s urgency in contributing to global energy and food security. We have listened to the Government of the Republic of Trinidad and Tobago’s message that it has the capacity and willingness to ameliorate economic an
