Thursday, November 30, 2023

The agreement between Venezuela and Trinidad promotes the joint exploitation of natural gas

The managing partner of Gas Energy Latin America, Antero Alvarado, indicated that the scope of the agreement signed between Venezuela and Trinidad to promote the joint exploitation of natural gas in the Caribbean Sea has not yet been determined. According to Alvarado, the agreement establishes the exploitation of the Dragon field, located 40 kilometers north of the coast of the state of Sucre, near the Hibiscus field in Trinidad.

Apparently, the government of Trinidad and Tobago requested a license from the United States Office of Foreign Assets Control (OFAC), which was granted, representing a very interesting step. This license allows the extracted gas to feed the liquefaction trains in Trinidad and Tobago, which convert the gas into a product and export it to other places, thus giving the Caribbean more attractive prices.

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The expert emphasized that the Caribbean is one of the places where the United States owes money and where there are many migration movements. This agreement will address these problems by supplying gas to Venezuela. However, there are pending aspects to be explained in the license, such as the payment to Venezuela, which was proposed in the form of humanitarian aid but rejected.

Antero Alvarado also emphasized the geopolitical importance of this agreement for Trinidad and Tobago, stating that gas from Venezuela is its last lifeline. In addition, he suggested that since Trinidad and Tobago is a major Caribbean neighbor, it could be a gateway to Caricom countries such as Guyana.

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In conclusion, the agreement between Venezuela and Trinidad for the joint exploitation of natural gas in the Caribbean Sea has the potential to benefit both countries, as well as the Caribbean as a whole. This will not only strengthen the relations between the countries involved, but also have a positive effect in economic and geopolitical terms.

Nation World News Desk
Nation World News Desk
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