Trinidad and Venezuela Near Energy Agreement


Government Officials Meet to Continue Discussion on Cross-border Gas Supply

PORT OF SPAIN, Trinidad – Trinidad and Tobago has moved closer to finalising the terms and agreement with Venezuela surrounding gas supply between the two countries.

The Office of the Prime Minister (OPM) in a release on Wednesday said a meeting was held with officials from Venezuela and representatives from the twin island republic to continue discussion on cross-border gas supply from the South American nation.

“Discussions at the meeting were fruitful and both parties are very close to signing a final agreement,” the release stated.

Trinidad and Tobago and Venezuela have been locked in discussions to develop gas in the Loran/Manatee fields that straddle the countries’ maritime borders.

The Loran-Manatee field has an estimated 10.25 trillion cubic feet of gas of which roughly 74 per cent belongs to Venezuela with 26 per cent belonging to the twin island republic.

Both countries signed a Heads of Agreement in March 2017 on a gas connection project that will run from the Dragon field in Sucre state to the northeast of Venezuela from the Pdvsa Mariscal Sucre project to the Hibiscus platform in Trinidad and Tobago operated by Shell and the National Gas Company Of T&T.

First gas from Dragon, which contains 2.4tcf of reserves, is expected in 2020
The Venezuelan contingent was led by president of the National Constituent Assembly, Delcy Rodriguez, and included Venezuela’s Minister of the People’s Power for Oil/President of PDVSA, Manuel Quevedo, vice-minister for the Caribbean-Ministry of the People’s Power for Foreign Affairs, Mr. Raul Licausi and Ambassador of the Bolivarian Republic of Venezuela to the Republic of Trinidad and Tobago, Her Excellency Coromoto Godoy.

Trinidad and Tobago was represented by minister of Energy and Energy Industries, Franklin Khan, Minister of Foreign and CARICOM Affairs, Dennis Moses and Minister in the Ministry of the Attorney General and Legal Affairs and the Office of the Prime Minister, Stuart Young. – CMC