(Energy Analytics Institute, 20.Dec.2023) — The National Gas Company of Trinidad and Tobago (NGC) and Shell were granted a license for the exploration and exploitation of non-associated gas in the Dragon field, located in Venezuela’s Paria peninsula.
The license was granted during a signing ceremony in La Campiña in Caracas, the headquarters of state-owned PDVSA and Venezuela’s Ministry of Petroleum, PDVSA announced 21 Dec. 2023 in a statement on its website.
The ceremony was attended by Venezuela’s executive vice president Delcy Rodríguez Gómez; Pedro Rafael Tellechea, who serves the dual roles as the ministry’s and PDVSA’s head; Stuart Young, head of Trinidad and Tobago’s Ministry Energy and Energy Industries (MEEI); NGC director Mark Loquian; Shell Trinidad and Tobago president Adam Lowmass’ and Shell Venezuela representative Alfredo Urdaneta.
The license has a duration of 30 years. In the first phase, Dragon field production of around 185 million cubic feet of gas per day (MMcf/d) will be exported to Trinidad for use by the Caribbean country. Trinidad’s gas-dependent economy is home to the Atlantic LNG exporting facility as well as other plants that export methanol and ammonia.
“This great project marks a historic moment for Venezuela, since this will be the first time that gas will be produced and exported,” Rodríguez said, adding that the finally agreement and ceremony has the culmination six years of work.
During the ceremony, minister Young said NGC and Shell would work hand-in-hand with the Venezuelan government to develop the gas project.
“This is a great day for Venezuela and Trinidad and Tobago,” Young said.
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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
