MEEI Says OFAC GL44A Doesn’t Impact Trinidad’s Amended License

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(Trinidad and Tobago Ministry of Energy and Energy Industries, 17.Apr.2024) — The Office of Foreign Assets Control (OFAC), Department of Treasury of the United States Government today issued General Licence 44A which governs sanctions related to the Bolivarian Republic of Venezuela and deals with Authorizing the Wind Down of Transactions Related to Oil or Gas Sector Operations in Venezuela.

The Ministry of Energy and Energy Industries wishes to advise that this amendment to the OFAC General Licence 44 does not affect the Specific Amended OFAC license that was issued to the Government of the Republic of Trinidad and Tobago on 17 Oct. 2023, which authorized the Government of Trinidad and Tobago, the National Gas Company of Trinidad and Tobago Limited (NGC), Shell PLC and their affiliates to conduct business with the Government of Venezuela and Petroleos de Venezuela (PDVSA) with respect to the Dragon Gas Field in Venezuela.

The specific Amended OFAC License issued to Trinidad and Tobago is valid until 31 Oct. 2025 and permits Shell, NGC and contractors to continue the works being undertaken to explore, produce and export natural gas from the Dragon Gas Field.

Additionally, the Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister, The Honourable Stuart R. Young, M.P. reminds the public that Trinidad and Tobago secured a 30 year Exploration and Producution Licence from the Government of Venezuela on 21 Dec. 2023 for the Dragon Gas Field and advises that the work to explore, produce and export the natural gas from this field to Trinidad and Tobago is continuing.

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