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

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