TT/Venezuela gas deal Charles accuses govt of lethargy

“This in the context of the acute shortage of natural gas which is impacting not only Government’s revenues but also the efficient operations of our downstream energy industries at Point Lisas and our ability to be a reliable source of LNG. “The impact of this is being seen in the recent closures of energy plants, which have resulted in job losses.” Charles said more focus should be placed on producing gas from Loran/Manatee than the Dragon field which is located entirely within Venezuela territory and which so leaves TT more vulnerable and as price-takers.

“We are more vulnerable on the Dragon field arrangements because all the gas belongs to Venezuela and we will be price takers in that arrangement.

He bemoaned that to date the terms and conditions of the deal between our Government, Shell and NGC on the Dragon field have not been revealed.

He cited newspaper reports showing the Venezuelans very anxious to finalise the operating agreement to bring gas from Loran/ Manatee, but that the delay was allegedly by the TT Government, especially the Ministry of Foreign Affairs.

Charles said only after TT and Venezuela sign an Operating Agreement for Loran/Manatee will Royal Dutch Shell, Chevron and PDVSA have 90 days to present their development plan to extract 10 tcf of gas in the utilisation field, of which TT is guaranteed at least 2.7 tcf. He accused the foreign ministry of being clueless and non-proactive.

Charles said the ministry has given no details on the nine TT nationals held in Turkey, its reaction to negative travel advisories on TT, and how TT is complying with United Nations (UN) anti-terrorism resolutions.

“All we are aware of is the hiring of a Washington based lobbyist with known links to the Democratic party, supposedly to advance our interests in the United States (US) with a Republican President, a Republican Congress and a Republican controlled Senate.”