Trinidad cancels Venezuela gas deal
PORT OF SPAIN, February 4, 2020 – Trinidad and Tobago has cancelled an agreement for the joint development of an offshore gasfield with Venezuela in light of US sanctions, Prime Minister Keith Rowley announced on Monday.
The two countries were to develop the Loran-Manatee shallow-water field, which straddles their maritime border and has estimated reserves of around 283 bcm (10 tcf). About two-thirds of those reserves are on the Venezuelan side.
Trinidadian authorities had tasked Shell with studying the potential joint development. The Caribbean nation has faced years of gas shortages that have hampered local industry.