Trinidad PM Warns of Economic Risks from Potential Dragon Gas Deal…

Dr. Keith Rowley, Prime Minister of Trinidad and Tobago, warned of potential economic troubles should the Dragon gas deal with Venezuela fail. He emphasized the need for solid energy agreements to maintain public revenue for essential services. Rowley criticized negative narratives around the gas project and called for national support, highlighting the risks posed by U.S. sanctions and geopolitical factors. He concluded by stressing the future impact of diminishing gas supplies on the economy and public services.

In a recent address, Prime Minister Dr. Keith Rowley of Trinidad and Tobago expressed concern over the potential consequences if the Dragon gas deal with Venezuela falters. He emphasized that while the nation is currently in a strong position regarding this agreement, the revocation of U.S. licenses or Venezuelan cooperation could create significant financial distress for the country. Speaking at the Port of Spain General Hospital’s completion ceremony, he highlighted the critical need for steady revenue streams to support essential public services.

Rowley criticized the negative narrative surrounding the Dragon gas project, attributing it to individuals who fail to see the broader impacts of energy deals on the nation’s economy. He urged citizens to rally behind successful projects rather than celebrating their perceived failures. He pointed out that securing Venezuelan approval for gas extraction from its fields is an achievement that should be lauded, especially in light of the challenging geopolitical climate.

He further warned that the economy is at risk due to geopolitical tensions that can affect trade relations, including sanctions that may disrupt revenues. Rowley reiterated that keen leadership is essential to navigate these challenges, specifically referencing the importance of obtaining a license from the Office of Foreign Assets Control amid U.S. sanctions against Venezuela. He stressed the need for commitment and respect in international business dealings.

Additionally, Rowley highlighted the shared gas fields between Trinidad and Tobago and Venezuela, mentioning ongoing operations like Shell’s extraction from the Manatee field. He cautioned against celebrating any setbacks in these matters, hinting at the dire implications should the situation deteriorate.

Finally, he reflected on the future of Trinidad and Tobago’s energy reliance, questioning the nation’s preparedness for a declining gas supply. With a significant portion of the budget allocated to support vulnerable populations, Rowley indicated that without consistent gas supply, the government’s ability to maintain subsidies for utilities and social services would be severely impaired, creating potential hardship for the residents.

Prime Minister Dr. Keith Rowley’s comments underscore the significance of energy agreements for Trinidad and Tobago’s economy, especially in light of fluctuating geopolitical dynamics. His assurance of securing gas extraction from Venezuela highlights the urgent need for sustainable revenue. Furthermore, the warnings about the potential repercussions of undermining such deals serve as a call for national unity in support of economic stability. The future health of the nation may hinge on the success and continuation of these critical energy initiatives.

Original Source: www.stabroeknews.com