Venezuela issues Trinidad, Shell natural gas export license

Venezuela issued a license to Shell and Trinidad’s state-owned gas company for the export of natural gas from an offshore joint venture to the island nation’s processing plants, Vice President Delcy Rodriguez said in an audio note sent by state oil company PDVSA.

Venezuela Oil Minister Pedro Tellechea and Trinidad Energy Minister Stuart Young signed the deal in Caracas on Thursday evening, enabling Trinidad National Gas Company (NGC) and Shell to import natural gas from the Dragon Field in Venezuelan waters before it gets sent to Europe.

“This great project marks a historic moment for Venezuela,” Rodriguez said. “For the first time, Venezuela will produce and export gas.”

• The permit follows months of negotiations between Venezuela and Trinidad to restart the Dragon project agreed upon in 2018 and that Venezuela’s economic crisis and, later, US sanctions grounded to a halt
• The event was also attended by Shell’s Trinidad head Adam Lowmass, Shell’s Venezuela head Alfredo Urdaneta and Trinidad’s National Gas Company head Mark Loquan