Trinidad and Venezuela in major Dragon gas deal

Trinidad and Tobago’s Prime Minister Keith Rowley and Venezuelan President Nicolás Maduro on Saturday signed an agreement that will allow the island to access gas from the offshore Dragon field, international media has reported.

Under the agreement, 4.25 mcm (150 mcf) of gas per day, eventually to increase to 8.5 mcm (300 mcf) per day, will flow from Venezuela’s Dragon field through a 17-kilometre pipeline to Shell’s Hibiscus platform offshore Trinidad. From there, the gas will be distributed by the National Gas Company. Operations are slated to begin in 2020.

“TT is an exporter and processor of natural gas and natural gas products. Venezuelan natural gas has never been an input in that business, but after today, [we anticipate that] in the very near future, Venezuelan natural gas will come to market […] and be monetised for the benefit of the people of TT and Venezuela,” Prime Minister Rowley told reporters.

The deal was originally to be signed on Thursday; however the event was delayed due to a 7.3-magnitude earthquake that struck the Venezuelan coast.