Venezuela Exports Gas to Trinidad and Tobago

For Venezuela, this project represents a leap towards the diversification of its energy export matrix. Dec. 22, 2023.

Published 22 December 2023

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Executive Vice President Delcy Rodríguez described the terms of the agreement as "extraordinary" for advancing the development of both countries.

The first license for the extraction, production and export of gas in "Campo Dragón" has been granted to the state-owned National Gas Company (NGC) of Trinidad and Tobago in partnership with the Dutch company Shell.

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The signing of this license between the Minister of Petroleum and President of Petróleo de Venezuela, S.A. (PDVSA), Pedro Rafael Tellechea, and the Minister of Energy and Energy Industries of Trinidad and Tobago, Stuart Young, took place on Thursday, December 21, in a ceremony headed by the Executive Vice-President of the Bolivarian Republic of Venezuela, Delcy Rodríguez. This consolidates a strategic gas alliance of international projection.

The license is for 30 years and will produce in the first phase some 185 million cubic feet per day of gas that will be transported in pipelines to supply the petrochemical market and gas plants in Trinidad and Tobago.

After six years of work to bring the project to fruition and achieve favorable conditions, Executive Vice President Rodríguez described the terms of the agreement as "extraordinary" for advancing the development of both countries.

She also highlighted that "for the first time Venezuela will produce and export gas." In her opinion, this agreement is "a good example of what should be the relations of cooperation, friendship and brotherhood between our countries."

Venezuela y Trinidad y Tobago siguen afianzando sus relaciones de amistad y cooperación bilateral. Celebramos la firma de un acuerdo para la exploración y la explotación de Gas no asociado en el campo Dragón, en la Península de Paria. Sin duda, este proyecto marca un momento… pic.twitter.com/NJwwepssf3
— Delcy Rodríguez (@delcyrodriguezv) December 22, 2023

The tweet reads, "Venezuela and Trinidad and Tobago continue to strengthen their relations of friendship and bilateral cooperation. We celebrate the signing of an agreement for the exploration and exploitation of non-associated Gas in the Dragon field, on the Paria Peninsula. Without a doubt, this project marks a historic moment for the Homeland, as part of the energy policies promoted by the President Nicolás Maduro, with the purpose of strengthening our country as a gas exporter."

Trinidad's Minister of Energy, Young, expressed his satisfaction with the agreement reached, noting that they received "with much gratitude the license to produce the gas" and acknowledged the commitment of both countries to make this process a reality.

For Venezuela, this project represents a leap towards the diversification of its energy export matrix, within the framework of the development of offshore capacities. "Campo Dragón" strategically reinserts the country in the gas-based energy market.

The hydrocarbons policy promoted by President Nicolás Maduro Moros, based on repositioning Venezuela as a gas exporter, is being developed simultaneously with the gas reserves certification process, which could place the country as the fourth largest reserve in the world.

The signing of this agreement was also attended by the representative of Shell Venezuela, Alfredo Urdaneta; Mark Louquan, president of NGC; and Adam Lowmass, president of Shell Trinidad and Tobago.