Thursday 20 September, 2018

T&T and Venezuela sign historic gas deal

Prime Minister Dr. Keith Rowley arrives in Venezuela for the signing of the historic gas deal

Prime Minister Dr. Keith Rowley arrives in Venezuela for the signing of the historic gas deal

Prime Minister Dr. Keith Rowley and Venezuela President Nicolas Maduro have signed a historic gas deal, which will allow T&T to access gas from Venezuela’s Dragon Gas Field.

The Prime Minister along with a delegation arrived in Caracas, Venezuela on Saturday for the signing of the agreement of the final terms for the development of cross-border gas from the Dragon Gas Field between NGC, PDVSA and Shell.

The delegation included Minister of Energy Franklin Khan, Minister of National Security Stuart Young, Minister of Sport Shamfa Cudjoe, Minister of Foreign and CARICOM Affairs Denis Moses, Minister in the Ministry of Finance Alyson West and high level executives of NGC and Shell.

The historic signing took place at the Palacio de Miraflores in Caracas.

Speaking following the signing, Prime Minister Rowley hailed the agreement.

“What we have just witnessed is the coming together, in a situation which existed for two years but which has now come to the fore, to be operationalised for the people of T&T and the people of Venezuela.

"Geologically we are connected and historically we have used our hydrocarbon resources as the engines of both our economies. There have been many changes some for better, some for worse but in recent times under current leadership, there has been a tendency to cooperate."

"Trinidad and Tobago is an exporter of natural gas. Venezuela's resources of natural gas have never been an input but after today, Venezuela's gas will come to the international market to be monetized for the benefit of the people of Venezuela and with that being said, the sky is the limit,” Dr Rowley said.

He added that interesting discussions were had and said this model of cooperation shows tremendous promise for cooperation in other areas.

 

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