- Venezuela Exports Gas to Trinidad and Tobago
The first licence for the extraction, production, and export of gas in “Campo Dragón” has been issued to Trinidad and Tobago’s state-owned National Gas business (NGC) in collaboration with the Dutch business Shell.
The signing of this licence took place on Thursday, December 21, in a ceremony presided over by the Executive Vice-President of the Bolivarian Republic of Venezuela, Delcy Rodrguez, 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. This strengthens an international strategic gas alliance.
The licence is valid for 30 years and will generate 185 million cubic feet per day of gas in the first phase, which will be delivered in pipes to feed the petrochemical industry and gas plants in Trinidad and Tobago.
Executive Vice President Rodrguez described the parameters of the agreement as “extraordinary” for boosting the growth of both countries after six years of struggle to bring the project to fruition and establish favourable conditions.
She also stated that “for the first time in history, Venezuela will produce and export gas.” This accord, in her opinion, is “a good example of what should be the relations of cooperation, friendship, and brotherhood between our countries.”
Young, Trinidad’s Minister of Energy, expressed his happiness with the agreement struck, stating that they received “with much gratitude the licence to produce the gas” and appreciated both countries’ commitment to making this process a reality.
For Venezuela, this project represents a significant step towards diversifying its energy export matrix through the development of offshore capacities. “Campo Dragón” reintroduces the country to the gas-based energy market.
President Nicolás Maduro Moros’ hydrocarbons strategy, centred on repositioning Venezuela as a gas exporter, is being created concurrently with the gas reserves certification process, which could place the country as the world’s fourth largest reserve.
The signing of this deal was also witnessed by Alfredo Urdaneta, a representative of Shell Venezuela; Mark Louquan, president of NGC; and Adam Lowmass, president of Shell Trinidad and Tobago.
