Trinidad in talks with USA on Venezuela gasfield project

Trinidad in talks with USA on Venezuela gasfield project

PORT OF SPAIN, March 21, 2024 – The government of Trinidad and Tobago is holding talks with US counterparts to seek a licence for a BP-led gasfield project shared with Venezuela, Reuters reported on Thursday.

The report cited comments from Trinidadian Minister of Energy and Energy Industries Stuart Young.


The Manakin-Cocuina field straddles the border of Venezuela’s Block 4 and Trinidad’s Block 5b. It holds estimated reserves of 28.3 bcm (1 tcf) of natural gas.

Last week, BP held talks with representatives of Venezuela and Trinidad and Tobago on the project.

The company’s development of the field would be in line with the USA’s recent relaxing of sanctions on Venezuela. This move is under threat, however, with US officials saying in February that sanctions on the oil and gas sector could be reimposed following the banning of an opposition candidate.

Co-operation with Venezuela on gas developments is a pillar of Trinidad and Tobago’s policy to address gas shortages that have hampered industry in the country for years. The shortages have affected the petrochemicals sector in particular, as well as forcing the flagship 15-million-tpy Atlantic LNG plan to idle one of its four trains since 2020.

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