Young does not believe that relations with Venezuela will be altered / Photo: EFE
The Government of Trinidad and Tobago said on Wednesday that the oil agreement with Venezuela on the development of the Loran-Manatí cross-border natural gas field will go ahead regardless of the political situation in Venezuela.
“We have a binding agreement with the Government of Venezuela, with whoever is in power, for Trinidad and Tobago to go ahead and develop Manatí,” Trinidad and Tobago’s Minister of Energy and Energy Industries, Stuart Young, told a Trinidadian radio station.
“With Venezuela we know there is always a level of uncertainty and the first thing we have to understand in Trinidad and Tobago is that you control what you can control,” Young added, pointing out that it is a gas field with 73% in Venezuela and 27% in Trinidad.
“In 2019, it was not easy to get the deal done because this had not happened before in the global energy landscape, where you are allowed to develop your side and you don’t have to come with a plan for my side yet,” Young said.
Reservations
The Manatí field has estimated reserves of approximately 800 billion cubic meters of gas.
The Energy Minister explained that the project being developed by Shell has already made progress.
“When the Venezuelan government gave us the go-ahead in 2019, we sat down and in 2021, we signed a new agreement with Shell,” Young recalled, referring to the Manatí field, which is expected to produce 17.1 million cubic meters of natural gas per day.
UN experts
A United Nations panel of experts said that Venezuelan electoral authorities’ handling of results following the July 28 elections lacked “basic measures of transparency and integrity that are essential for holding credible elections.”
In December, Venezuela granted Trinidad and Tobago a license to extract and export gas, with the participation of the British hydrocarbon company Shell, in the Dragon field, located in the waters of the Venezuelan state of Sucre (northeast), along the northwest coast of Trinidad.
Port-au-Prince / EFE
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2024-08-17 15:12:15
