TT, Venezuela gas deal on track

In an interview at the Venezuelan Embassy in Port of Spain on Thursday, Calderon said Venezuelan Energy Minister Rafael Ramirez is expected, “to come any time (to TT) before the end of the month to conclude part of the deal.” Prime Minister Dr Keith Rowley and Venezuelan President Nicolas Maduro signed three agreements when Rowley on December 5, 2016.

These were for asupply of natural gas from Venezuela to Trinidad and Tobago from Camp Dragon; Shell Venezuela and Pdvsa entering in negotiations to evaluate opportunities to reduce gas flaring in northern Monagas state, and areement to obtain financing for a joint venture to encourage increased oil production. Rowley and Maduro first discussed the initiative to access natural gas from Venezuela’s Dragon Field when Maduro visited TT last May.

Rowley and Minister in the Office of the Prime Minister Stuart Young have both said that efforts are being made to conclude a gas sales agreement by this month.

Calderon said teams from TT, Venezuela and Shell have been holding technical meetings but this may not be widely known to many people.

She said the latest set of these meetings happened three weeks ago.

The Ambassador said all three teams are committed to concluding the agreement as soon as possible, given the undertaking by Rowley and Maduro that this be done.

Calderon said the initiative is a win-win situation for both countries, with Venezuela having the natural gas while TT has the installed capacity for it.

She added that this agreement will give Venezuela the opportunity to become a gas exporter,”which we have not been as yet.” Calderon was also pleased that the US$50 million revolving trade fund continues to operate since it was launched on May 22, 2016.

To date, she indicated there have been four shipments of goods from this country to Venezuela.

Last May, Rowley said TT was, “pleased that financing has been put in place to enable cross border trade of manufactured items.” Noting the history of trade relations between TT and Venezuela, Calderon recalled a time when TT citizens would go to Venezuela to purchase commodities not available in this country.