Trinidad and Venezuela set to sign gas deal

PORT OF SPAIN, June 29, 2018 – Trinidad and Tobago is hoping to have a gas agreement squared away with Venezuela by July 16, Minister in the Office of the Prime Minister Stuart Young told local media on Thursday.

Minster Young led a delegation to Caracas just one day before his comments at a post-Cabinet media briefing. He discussed the two countries’ mutual desire to benefit from extracting gas at the offshore Dragon field, located in Venezuelan waters.

“We have finally narrowed down all of the terms and conditions, and we’re outstanding on one item… [The delegation is] supposed to return to Caracas on Monday the 16th of July, and hopefully then we’ll be able to bring it to closure,” he said, cited by news portal Loop.

Young said they estimate it will take 18 months to two years to build infrastructure and see first gas. The PDVSA-operated field contains 73.6 bcm (2.6 tcf) of gas.

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