Trinidad and Tobago inked a profit-sharing agreement with Venezuela last night to export gas from the Dragon field, according to Venezuelan President Nicolas Maduro.
Energy Minister Stuart Young confirmed the incident in a Facebook post, citing a social media post by Maduro that stated, “Historic moment at Miraflores, Caracas, Venezuela.”
“As good neighbors and brothers, Trinidad and Tobago and the Bolivarian Republic of Venezuela, we have taken a giant step!” With the signing of the agreement to work the Dragon field in Venezuelan waters, we will be able to produce a long-lost project together. “It is a message of peace, complementarity, solidarity, exercised and shared sovereignty,” Maduro wrote on his Facebook page.
On Tuesday, Young said he met with Venezuela’s executive vice president Delcy Rodriguez and petroleum minister Pedro Rafael Tellechea.
“Collaborating with Venezuela to accelerate the development and production of Venezuelan natural gas for export and use in Trinidad and Tobago.” “We’ve reached an important agreement and milestone,” he said.
Venezuela, according to Maduro, has been organizing gas blockages around the Caribbean.
“We have internal legislation in accordance with our Constitution, ready to receive countries and companies that want to invest.” “It’s a win-win situation where everyone benefits,” Madruo wrote.
The United States lifted sanctions against Venezuela in January, paving the path for T&T to exploit the Dragon Gas field.
