Acting Prime Minister Stuart Young has voiced concerns over the future of the Dragon gas deal with Venezuela following U.S. actions. Amidst these uncertainties, he assured his commitment to defending Trinidad and Tobago’s interests. Young highlighted the deal’s significance for energy security while emphasizing the need for continued engagement with U.S. policymakers and energy partners, alongside diversification efforts in the energy sector.
Acting Prime Minister Stuart Young has expressed uncertainty regarding the future of Trinidad and Tobago’s Dragon gas deal with Venezuela, especially in light of recent U.S. actions to revoke oil export licenses for Venezuela. Young emphasized his commitment to fight for Trinidad and Tobago, irrespective of the deal’s fate. President Trump cited unmet electoral conditions in Venezuela for the revocation, while U.S. Senator Marco Rubio promised to dismantle Biden-era oil agreements supporting Venezuela’s government.
Young, who is temporarily leading while Prime Minister Dr. Keith Rowley is away, acknowledged immediate discussions with U.S. Embassy officials and energy companies like Shell and BP to clarify implications for Trinidad and Tobago. Until now, no negative repercussions have been noted, but Young admitted the unpredictability of future U.S. policies. He highlighted the Dragon gas deal as vital for the country’s energy security and regional stability.
During a recent Cabinet meeting, Young criticized opposition responses to the Venezuelan gas deal, emphasizing its national benefit over party interests. He outlined the anticipated advantages of the gas supply expected by 2027, such as enhanced foreign exchange, funding for essential services, and overall economic growth, warning that antagonistic rhetoric against Venezuela could harm Trinidad and Tobago’s interests.
Young clarified the financial arrangements concerning the Dragon gas deal, stating that while his government has contractual commitments, no significant funds have flowed to Venezuela until gas production starts. Payments that have been made pertain to customary practices in the oil and gas sector. Queries about potential sanctions and the nature of funds given to the Venezuelan government were met with the assurance of ongoing diplomatic engagement.
Young reaffirmed the government’s determination to pursue the Dragon deal, despite speculation about its viability. He committed to advocating for Trinidad and Tobago’s interests and reassured that collaborations with major players like Shell would continue as they bring vital experience from operating in high-risk areas. Discussions about meeting with U.S. officials regarding the deal are planned for the future.
Meanwhile, Young mentioned that the government is initiating diversification plans to reduce its reliance on Dragon gas while also considering other projects like the Loran-Manatee gas field. He assured that T&T remains in consistent communication with U.S. Embassy staff and is prepared to adopt necessary actions regarding future developments in gas pricing and supply.
In conclusion, Acting Prime Minister Stuart Young articulates a cautious optimism regarding the Dragon gas deal with Venezuela, recognizing its importance for Trinidad and Tobago’s energy security. Despite uncertainties stemming from U.S. policy changes, Young underscores a commitment to advocating for national interests and maintaining strategic partnerships with energy companies. Ongoing efforts to diversify T&T’s energy portfolio signal proactive governance in the face of evolving geopolitical landscapes.
Original Source: trinidadexpress.com
