Trinidad and Tobago is requesting the U.S. government amend the terms of a license authorizing the joint development of a promising offshore gas field with Venezuela, the Caribbean nation's energy minister said on Thursday.
The United States in January issued a 2-year authorization for Trinidad and a group of companies including Venezuelan state-run oil firm PDVSA and Anglo-Dutch Shell
Trinidad Prime Minister Keith Rowley and Energy Minister Stuart Young have recently talked to U.S. Presidential Coordinator for International Energy Security Amos Hochstein and U.S. Vice President Kamala Harris' staff to explain the proposed changes. In part, they are related to the financial terms, Young told Reuters on the sidelines of the 7th International Energy Summit in Miami.
Trinidad and Venezuela are expected to meet again this month to begin discussion of Dragon's commercial terms. Both parties signed confidentially agreements and began discussing technical aspects in previous meetings. Trinidad is not producing enough gas to fully feed its industry, leaving spare capacity for processing and transforming the fuel into valuable products. It has invited countries and companies to use its processing facilities.
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