Trinidad and Tobago’s newly elected Prime Minister, Kamla Persad-Bissessar SC, has officially pronounced the long-delayed Dragon gas deal with Venezuela as “dead” and signalled her administration’s plan to pursue partnerships with Caribbean Community (CARICOM) countries.
Speaking to reporters shortly after the swearing-in of her new Cabinet on Saturday, Persad-Bissessar confirmed her administration’s intention to pursue collaborations with Guyana, Grenada, and Suriname.
She said, “The dragon gas deal is dead, we will be foolish to not go elsewhere…they kept it alive for 10 years and couldn’t make it work, so we are not going to do it now. (We will look) right in CARICOM, as I mentioned, Grenada, Guyana, Suriname.”
The Prime Minister’s remarks mark a decisive end to the T&T’s pursuit of Venezuelan gas through the offshore Dragon field, a project that had faced years of delays amid United States sanctions among other factors.
Moreover, newly appointed Minister of Energy and Energy Industries, Dr Roodal Moonilal, also echoed the Prime Minister’s sentiments. He indicated that the new administration is eager to reposition the country, the Caribbean’s oldest oil-producing nation, as a key player in the regional energy market. Particularly he mentioned potential partnerships with Guyana and Suriname.
Dr Moonilal said, “And I am very happy that even before the swearing in the Guyanese government and officials there expressed interest in having arrangements with Trinidad and Tobago and discussions pertaining to gas and it is something that we will quickly engage in government and the relevant officials in Guyana.”
At one of his recent press conference, Guyana’s Vice President, Dr Bharrat Jagdeo stated that a study will have to be conducted to determine whether sending Guyana’s gas to T&T is more feasible than other options for monetising the resource.
He was asked about sending Guyana’s gas to neighbouring T&T, in light of the United States’ move to revoke two licences it had granted to facilitate the development of offshore natural gas projects between the twin-island republic and Venezuela. “They could add another option, which is, they should study whether taking it to Trinidad to be processed there makes sense,” Jagdeo said.
At that time, the Vice President had noted that Trinidad has not formally reached out to Guyana since the US licence revocation.
