Trinidad and Tobago granted a licence to negotiate with Venezuela
US approves Trinidad-Venezuela Dragon talks
The gas field could help Trinidad and Tobago sustain its LNG industry
The US Treasury has granted Trinidad and Tobago a licence to negotiate with Venezuela to develop the Dragon gas field in the latter’s waters. The island nation hopes access to Venezuelan gas will help offset declining domestic production and shore up its LNG output, but hurdles remain over payment. Dragon holds approximately 5–10tn ft³ (141.6–283.2bn m³) of gas, Stuart Young, Trinidad’s minister of energy and energy industries, told state-owned broadcaster TTT. The field’s resources have been “proven” by historical Venezuelan exploration, including the drilling of three wells at Dragon, the minister continued. FIG.1: TRINIDAD'S GAS OUTPUT Gas output, mn ft³/d LNG production, mn m³
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
