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.😆

@sgtdjones

“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

Are you denying that your Goddess and Moonilal did this on behalf of your tribal cult? Whether you agreed with Maduro's politics or not, why try to sabotage significant potential economic benefits for the country you want to lead?!

In other words, true to form, unless people with "hair llike ours" don't run the country let's ruin it?

You and granite and those of your ilk thrive on racism, lies, deception and half truths.

You have little to say on the continued murders and insecurity or the endless firings, putting tens of thousands on the breadline.

You'd swear that TnT is now transformed to a paradise because your tribe is "large and in charge".

No doubt you'd think so because of the number of "deals" you and your comany get now as reward for your continued keyboard campaigning on places like Caribbeancricket and elsewhere.

Unpatriotic despots😡

@notinsular

I see a typical "PNM till I die"

You'd swear that T&T is now transformed to a paradise because your tribe is "large and in charge."

I was born in T&T, and I pay taxes. I am a Canadian citizen; I gave up T&T citizenship a couple of decades ago. I have never cast a ballot in any T&T election, nor have I supported any opposition or government parties.

What tribe do I belong to?... This answer should be interesting.

Are you denying that your Goddess and Moonilal did this on behalf of your tribal cult? Whether you agreed with Maduro's politics or not, why try to sabotage significant potential economic benefits for the country you want to lead?!

In other words, true to form, unless people with "hair llike ours" don't run the country let's ruin it?

Your government has had a decade to make a deal for dragon gas with the American government and give it a license. Now what was accomplished apart from the PM dancing with Madero in Caracas and the allegation of paying one million USD each month to Madero? Can you explain the significant benefits that occurred during the last decade when your government was in power?

I fail to understand ... ""hair llike ours" don't run the country let's ruin it?"

I am not a citizen, just a businessman. "How can my hair affect the government?

An intriguing answer should be forthcoming from you.

You have little to say on the continued murders and insecurity or the endless firings, putting tens of thousands on the breadline.

This issue didn't occur during the last year; it's a problem when your government was in power with record numbers of murders. Can I quote some of what your national minister, Hinds, said? He was not responsible, et al. The present numbers are lower than last year's.

A decade ago, T&T had 12-plus billion US dollars in the heritage fund; if you check when the present government won the election, you will notice the decline. The large sums were used to maintain the current opposition in power through additional borrowings. An increase of approx. 80 billion, where the debt stands at over 140 billion, excluding US funds owed. today.

e.g., Total Debt Transferred: Heritage Petroleum inherited roughly US$850 million in debt and other significant historical obligations from the Petrotrin restructuring.

In 2023, "Heritage refinances debt to the tune of US$975 million"........borrowing to pay the interest.

Today it's over a billion.

Your CEPEP... The program has faced accusations of mismanagement, with claims that $4.1 billion in spending was unaudited for over a decade. See the notation?

Wonder why it was shut down...how can such funds not be accounted for? Oh, yet government ministers were alleged to collect a percentage of such contracts awarded in their regions.

The government and citizens cannot afford such.

You and granite and those of your ilk thrive on racism, lies, deception, and half-truths.

It's so simple; provide factual accounts. I have asked you for the attached on numerous occasions, but you run and disappear. I have not received any contracts from this government since it gained power. I had one contract under the previous administration mothballing PetroTrin.

I await your answers.

@sgtdjones

Spouting all the usual UNC talking points

 “what was accomplished apart from the PM dancing with Madero in Caracas”

You are either very stupid or extremely disingenuous, which is it? Do you think multi-national energy projects happen over night? Do you think that Dragon gas is the only cross border or gas related project developed in spite of your party’s opposition?

Through efforts involved in cancelling “Unitization”, the then PNM Govt. ended a deadlock from the early 2000s, unlocking Trinidad’s Share (27%) of the overlapping fields. By ending unitization, Venezuela agreed that Trinidad could independently develop its portion of the Loran-Manatee field.

This gave Shell the green light to move forward with the Manatee project, without waiting for joint development agreements that had stalled for 15 years. Remember, post 2010, Venezuela and Shell were hardly on talking terms and it took a lot to bring them to the same table.

( Of course your tribe howled about the many "trips" abroad .. lol)

Here are just some of the other achievements apart from the politicized Dragon gas arrangement. 

( The kind that your drunkard, Epstein-class worshipping PM tried to stop !!)

Project: Cypre Gas Field

Operator: bpTT

Status: Production began April 2025

Impact: ~250 million scf/day; tied back to Juniper platform; strengthens domestic gas supply

Project: Manatee Field (cross-border with Venezuela)

Operator: Shell

Status: Progressing toward development

Impact: Expected to add significant reserves; part of Dragon-Manatee discussions for regional gas monetization

Project: Perenco Acquisitions

Operator: Perenco

Status: Purchased mature bp & Woodside assets

Impact: Extends life of aging fields; focus on maximizing recovery from mature acreage

Project: Cassia Compression Project

Operator: bpTT

Status: Commissioned 2022

Impact: Helps maintain production from declining reservoirs by boosting compression capacity

Project: Matapal Gas Project

Operator: bpTT

Status: Came online 2021

Impact: Delivered ~400 million scf/day; tied back to Juniper platform

Project: Colibri Project

Operator: Shell

Status: Started 2022

Impact: Adds ~250 million scf/day; supports Atlantic LNG feedstock

Project: Deepwater Exploration (ExxonMobil return, Shell, bp)

Operator: Multiple

Status: Ongoing

Impact: Several blocks under appraisal; potential long-term gas supply for LNG and petrochemicals

 Full of hollow talk, insinuations and mauvais langue, name one major sustainable initiative that your party in it’s different incarnations since the 1990’s has achieved? 

@notinsular

It takes approximately 8 years from the wellhead to LNG or the refinery after they are found. Your idiots had a decade and produced nothing. Oil and gas declined during their tenure.

You have had no Venezuelan gas for 15 years; is your head really that hard? Not even with Venezuelan discoveries on the border.

All your so-called successes, and T&T only produces half of what it needs in natural gas and barrels of oil daily. Your idiotic PNM decisions ramped up PetroTrin to 200,000 barrels per day...et al

I noticed that my questions were not addressed, and the information provided seemed unrelated. I am wasting my time.

Ta-ta