Uncertainty Surrounds Trinidad’s Dragon Gas Deal Amid U.S. Policy Changes

Acting Prime Minister Stuart Young stated that he cannot guarantee the survival of the Dragon gas deal with Venezuela amid recent U.S. policy changes. He emphasized the deal’s significance for Trinidad and Tobago’s energy and economic security while criticizing the opposition’s stance. Young confirmed ongoing discussions with relevant stakeholders and highlighted the need for continued engagement while exploring diversification opportunities.

In a recent statement, Acting Prime Minister Stuart Young expressed uncertainty regarding the future of the Dragon gas deal with Venezuela, emphasizing his commitment to advocate for Trinidad and Tobago as its prospective leader. Following U.S. President Donald Trump’s announcement to revoke the oil export license for Venezuela, Young immediately engaged with U.S. Embassy officials and energy companies to acquire clarity on the potential implications. He acknowledged that while no adverse effects on Trinidad and Tobago have been reported yet, predicting future U.S. governmental decisions is inherently challenging.

Young highlighted the importance of the Dragon gas deal for Trinidad and Tobago’s energy security and regional stability, stating that it would bolster foreign exchange, pay national bills, and support essential services like health and education. He cautioned that calls for sanctions against the Venezuelan government could jeopardize T&T’s interests, questioning how a future administration might engage with Maduro after expressing open opposition. Young criticized the Opposition Leader Kamla Persad-Bissessar for her severe commentary on Rowley, insisting the deal is beneficial for all citizens.

He responded to inquiries regarding financial engagement with the Venezuelan government, clarifying that Trinidad and Tobago has a long-term commercial agreement with Venezuela. Although payments had been made concerning the Dragon deal, Young refrained from disclosing exact figures, attributing payment handling to Shell and the National Gas Company. He labeled accusations of Trinidad and Tobago financially supporting Maduro’s administration as misleading.

Young confirmed he had communicated with Venezuelan leadership recently and reiterated the nation’s position would remain proactive in the event of changes to U.S. licenses affecting the gas agreements. He reassured citizens of his resolve to advocate for national interests over the long term, asserting that leadership entails perseverance amid uncertainty. Young also expressed pride in partnering with Shell, citing its status as the world’s largest LNG trader, and noted BP’s recent favorable assessment of Trinidad and Tobago’s prospects.

In light of ongoing discussions about gas deals, Young indicated that legal advice would be sought regarding the continuation of agreements absent U.S. licenses. He also addressed the implications of the transition period affecting the U.S. Ambassador to Trinidad and Tobago, affirming regular communication with U.S. Embassy representatives, which remains uninterrupted. Furthermore, Young announced forthcoming diversification strategies and underscored the Loran-Manatee gas field as a promising opportunity alongside the Dragon gas project, emphasizing the latter’s potential to enhance production levels.

The Dragon gas deal remains precarious in the wake of significant geopolitical developments, particularly the recent actions taken by the U.S. government. Despite the uncertainties, Acting Prime Minister Stuart Young is resolute in his commitment to advocate for Trinidad and Tobago’s interests while recognizing the intricate balance of diplomacy and national energy security. The implications of the deal extend beyond economics, directly impacting various sectors within the nation, and Young’s discussions indicate a proactive approach to navigate the complexities ahead.

Original Source: trinidadexpress.com