Trinidad on Amendment to OFAC License [Video]

(TT MEEI, 17.Oct.2023) — The Honourable Stuart R. Young, MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister announced that The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, issued an amendment to the license granted to the Government of the Republic of Trinidad and Tobago with respect to the development and production of the Venezuelan Dragon gas field.

The amended license will run for a period of 2 years until 31 October, 2025 and allows for payments in fiat currency, US dollars, Bolivars and via humanitarian means.

This achievement on behalf of the people of Trinidad and Tobago will facilitate final negotiations on the Dragon gas field in areas such as commercial terms and technical terms.

This is a significant step bringing closer to completion the development, production and export of Venezuelan gas from Dragon to Trinidad and Tobago.


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