T&T energy sector set to benefit from Shell’s talks with Venezuela...

‘Another 20 to 30 years of life’

London-based energy giant Shell has confirmed it is in advanced talks with the Venezuelan government for the development of four large areas containing natural gas near Trinidad and Tobago. International news agency Reuters reported yesterday that Shell could make a final investment decision by the end of the year on the 4.2 trillion cubic feet (tcf) Dragon gas field in Venezuelan waters. Shell is targeting access to the three fields that, along with Dra­gon, are part of the 12 tcf Mariscal Sucre project off Venezuela’s eastern coast. This is ​in addition to the 7.3 tcf Loran offshore area, part of a cross-border field that extends into Trinidad, for some 20 tcf of combined reserves, sources told Reuters.

In an e-mail response to the Express yesterday, Kelli-Marie Patel, corporate com­munications advi­ser at Shell, Port of Spain, said, “Yes, we can confirm. The proximity to Manatee makes Loran an attractive investment opportunity for Shell.” Shell expects to send the Venezuelan gas to Trinidad for processing into liquefied natural gas (LNG) for export, a big ​push for its shared Atlantic LNG project, which has been unable to reach installed capacity due to insufficient gas supply, Reuters noted.

Shell is already developing Trinidad’s portion of the Loran-Manatee field. The ​British company operates the Trinidad side, while US major Chevron holds stakes in two blocks that include the Loran field on the Venezuela side. Former energy minister Kevin Ramnarine said yesterday that T&T’s energy sector could gain another 20 to 30 years of life if ongoing talks between Shell and Venezuela materialize.

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PNM Lal Beharry Yong comments...

He said the former People’s National Movement (PNM) administration had “opened the door to Venez­ue­la’s gas resources” and secured mutually beneficial terms between both countries. “They attacked us incessantly for the number of trips to Houston, London, The Hague, Washington, DC and Caracas, all of which were carried out with the intention of ensuring our country’s future in the oil and gas sector.

How much gas did T&T get from all that travel? You paid Madero one million USD per month for 8 years.

“I remind the population that from 2016 all the way to May 2025, Kamla Persad Bissessar and Moonilal did everything they could to sabotage the then government from securing gas from Dragon and other Venezuelan gas fields. The UNC opposition even wrote, calling on Dr Keith Rowley and me to be sanctioned for the work that we were doing on behalf of Trinidad and Tobago to ensure our country’s energy future.”

How did the opposition do such a thing? You had a majority in Parliament. The USA gave you a permit.

But Madero vetoed it.

@sgtdjones

This man Stuart Young has the biggest mouth in Parliament,he always talking bout he conceptualised the Dragon Gas deal,they seem very hurt that UNC got the deal over the line.De "coolie" ooman inna dem head.😆