Guardian ( Trinidad and Tobago )
25 January 2023 ( Page 5 )
Energy Chamber: Dragon Field waiver a ‘major opportunity’
The Energy Chamber of T&T says it welcomes the US government’s granting
of a waiver for this country to be able to develop the Dragon Field.
Prime Minister Dr Keith Rowley, speaking during a media conference
yesterday, announced the US government’s approval for T&T to develop the
Dragon Gas Field, which lies just about 17 kilometres across the border from
our active Hibiscus platform.
“What this means is that the restrictions on the Dragon Gas Field
development is now relieved and all relevant parties can progress the plans
to result in natural gas from Venezuela eventually flowing from these proven
reserves to T&T then onto Caribbean, European and other markets, bringing
much humanitarian benefits to the Venezuelan population and greater
energy security to the Caribbean region,” Rowley stated.
In an almost immediate response, the Energy Chamber of T&T lauded the
move.
“The Energy Chamber of T&T welcomes the news of the granting of the US
Treasury Department OFAC waiver of the sanctions that have been
preventing T&T from working with PDVSA on the export of natural gas,” the
Energy Chamber said.
“This presents a major opportunity for T&T to begin the importation of
natural gas from Venezuela,” it added.
This issue was a major topic of discussion at the ongoing T&T Energy
Conference and specifically, the panel discussion on Monday which looked at
the integration of the southern Caribbean gas networks, it stated.
“The panel identified a major potential opportunity for T&T to become a gas
processing hub for the vast natural gas resources in Venezuela and
potentially other neighbouring countries,” the Energy Chamber noted.
Former Energy Minister Kevin Ramnarine also congratulated Rowley on the
situation.
“I think it’s good news and congratulations to the Prime Minister for his
diplomatic persistence.
From my experience, these are very complex issues. I expect, however, that
the journey to first gas has now started and a lot of work lays ahead for the
NGC and the Government,” Ramnarine said.
“I expect that if all goes to plan, we should see first gas in three to four years.
This would mark a new phase in our energy sector where we move to import
natural gas.
This has to be thought through carefully from a commercial and fiscal point
of view but overall, the news would be welcomed for the plants at Point Lisas
and the LNG business in Point Fortin,” he added.