Trinidad PM Rowley warns of financial risks if the Dragon gas deal with Venezuela fails, emphasizing the importance of energy agreements for public services. He celebrates securing licenses amid U.S. sanctions while stressing the need for leadership to navigate these challenges, highlighting potential economic impacts of gas depletion.
Prime Minister Dr. Keith Rowley of Trinidad and Tobago has issued a warning regarding the potential risks associated with the Dragon gas deal with Venezuela. He emphasized that if the arrangement deteriorates, it could lead to severe financial problems for the nation, particularly if the U.S. revokes its approval of the deal. Rowley made these comments during the official ceremony for the completion of the Central Block of the new Port of Spain General Hospital.
Rowley reassured that Trinidad and Tobago’s agreements are robust but noted that energy deals are crucial for maintaining revenues necessary for public services such as hospitals and schools. He countered claims from opposition members about the failure of the Dragon initiative, asking citizens to support the deal instead of celebrating its potential failure. He stressed the importance of these energy resources, particularly as domestic gas supplies dwindle.
Rowley further highlighted the need to navigate geopolitical complexities, as U.S. sanctions against Venezuela could threaten Trinidad and Tobago’s economy. He remarked on the importance of leadership in securing business agreements and maintaining the license from the Office of Foreign Assets Control (OFAC) amid these sanctions, labeling this achievement as vital for the country’s future.
He noted that both Trinidad and Venezuela share gas fields and celebrated the current extraction activities by companies like Shell from fields such as Manatee. Rowley cautioned that should news of any unfavorable changes regarding these agreements arise, citizens should not celebrate, as negative outcomes would lead to significant challenges for the economy and public services.
The Prime Minister also raised concerns about Trinidad and Tobago’s long-term energy sustainability, questioning what the country would face if current energy initiatives were not in place. He cited the dependency on Point Lisas for revenue generation and warned of the broader implications for public funding if gas resources are depleted over time. Rowley conveyed that a budget of $60 billion includes $6 billion directed toward citizens without other revenue sources, underscoring the risk of economic instability without sustainable income.
In summary, Prime Minister Rowley’s remarks stress the critical nature of the Dragon gas deal with Venezuela for Trinidad and Tobago’s economic stability. He highlighted the possible repercussions of failing energy agreements and the importance of securing licenses amid geopolitical challenges. His warnings emphasize the urgent need for sustainable energy resources to support public services and the economy as local gas supplies decline.
Original Source: www.stabroeknews.com
