Trinidad receives US support for cross-border energy projects

Trinidad and Tobago received U.S. assistance to develop the Dragon field in Venezuela. This could include a U.S. Treasury Department license, the U.S. Government and Trinidad announced on Tuesday.

The announcement came after a meeting in Washington between U.S. Secretaries of State Marco Rubio and Kamla Persad Bissessar, Prime Minister of Trinidad and Tobago.

Trinidad and Tobago wanted to develop the gas resources near the maritime border of the two countries in Venezuela, which is sanctioned by the United States. However, the project was put on hold earlier this year when the U.S. initial licenses were suspended.

In April, the U.S. revoked the license granted to Shell and Trinidad National Gas Company for the development of the Dragon gas fields off Venezuela despite the sanctions imposed on the government headed by President Nicolas Maduro.

Rubio, in a Tuesday statement, said that the U.S. supported the Trinidad government’s Dragon gas proposal as well as the steps taken to ensure the Maduro regime would not gain from it.

Shell responded to statements from the U.S. and Trinidad and Tobago by saying that its activities in Venezuela adhere to all laws, regulations and controls on trade, including those in the U.S. (Reporting and editing by Nathan Crooks, Leslie Adler and Curtis Williams)

(source: Reuters)