Uncertain Future of the Dragon Gas Deal: Acting Prime Minister Young’s Commitments
Acting Prime Minister Stuart Young reiterated the uncertainty surrounding the Dragon gas deal with Venezuela, especially following recent US policy changes. He emphasized the deal’s importance for Trinidad and Tobago’s energy security and economic stability, while actively engaging with officials and companies to mitigate potential impacts. Young condemned political attacks on Venezuela, asserting that the deal benefits all citizens and expressing commitment to continued advocacy for the nation’s interests.
Acting Prime Minister Stuart Young expressed uncertainty regarding the longevity of the Dragon gas deal with Venezuela. He stated that if the deal fails, he remains committed to championing the interests of Trinidad and Tobago as its future leader. Following the revocation of the oil export license to Venezuela by US President Donald Trump, Young has engaged with US Embassy officials and energy companies to clarify any potential implications for Trinidad and Tobago.
Young acknowledged that, at present, there has not been any indication of adverse effects resulting from the actions of the Trump administration. However, he emphasized that predicting future US governmental decisions remains a challenge. The survival of the Dragon deal is significant for Trinidad and Tobago’s energy security, regional stability within Caricom, and international relationships.
During a press conference, Young refuted Opposition Leader Kamla Persad-Bissessar’s criticism of Prime Minister Rowley, asserting that the gas agreement benefits all citizens rather than just specific political factions. He noted that the anticipated gas supply from the deal is essential for securing foreign currency, fulfilling national expenditure, and ensuring healthcare and education services.
Young cautioned that calls for sanctions against Venezuela could be detrimental to Trinidad and Tobago’s national interests. He questioned the potential repercussions for any future governmental relations with the Maduro administration if current opposition continues. Young also clarified that Trinidad and Tobago has established a 30-year commercial agreement with Venezuela concerning the Dragon gas field, with ongoing discussions pertaining to royalties and payments.
When pressed on whether Trinidad and Tobago has financially supported the Venezuelan government, Young confirmed that payments relating to the Dragon project have been made. These payments have been coordinated through Shell and the National Gas Company; however, he could not disclose specific amounts due to confidentiality agreements.
He expressed concerns about the opposition’s derogatory remarks directed towards Maduro, underscoring the necessity for diplomatic decorum. Young reaffirmed that he maintains communication with Venezuelan officials and indicated that the government’s strategic engagement will persist irrespective of the US government’s licensing decisions.
Young expressed confidence in Trinidad and Tobago’s collaboration with global energy companies, highlighting Shell’s substantial role in the gas trade. He assured citizens that he will resolve ongoing issues related to the Dragon deal while simultaneously exploring diversification strategies to bolster the national economy. He reiterated the government’s commitment to developing other potential gas fields such as Loran-Manatee.
Lastly, Young addressed the absence of a US Ambassador in Trinidad and Tobago, stating that the situation is typical during transitions in government. He reaffirmed the government’s dedication to maintaining relations with US Embassy officials and mentioned plans to seek legal counsel concerning operational capacities in light of current US sanctions, while emphasizing the importance of ongoing dialogue with US leadership in due course.
In summary, Acting Prime Minister Stuart Young has highlighted the precarious status of the Dragon gas deal with Venezuela amidst recent US regulatory changes. He emphasized the deal’s critical role in sustaining Trinidad and Tobago’s energy security and economic stability, while condemning adversarial political rhetoric toward Venezuela. Young reassured citizens of the government’s resolve to continue strategic engagements for the nation’s benefit and to explore alternative gas ventures for future growth.
Original Source: trinidadexpress.com
