US grants license to Shell, Trinidad to develop Venezuelan gas field, official says
Trinidad's Attorney General said that the U.S. Government has given Shell and Trinidad and Tobago permission to develop a offshore gas field near the maritime border in Venezuela, Trinidad's attorney-general announced on Thursday.
In recent years, the project to supply Trinidad with Venezuelan natural gas has been progressing slowly, due to frequent U.S. changes in policy towards Venezuela. Venezuela remains under U.S. sanctions for energy since 2019.
Foreign companies that comply with U.S. sanctions and are interested in developing energy projects in Venezuela will need to obtain authorizations or licenses.
The Trump administration in April
Terminated
The previous licenses that President Joe Biden’s government granted to Shell and Trinidad’s National Gas Company for the Dragon project and to a development similar by BP are considered vital for securing natural gas for Trinidad’s liquefied gas plants and for other industries.
The authorization granted Wednesday is divided into three phases. In the first phase, Trinidad and Shell can negotiate the project in Venezuela with its state-owned company PDVSA until April 2026. However, U.S. firms must be included in the development.
You must meet commercial targets for U.S.-based companies. These targets are not difficult to reach, according to us. "They are reasonable", Attorney General John Jeremie said in a recent press conference.
(source: Reuters)