Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen correspondent: The US vetoed a UNSC resolution calling for a ceasefire in Gaza, arguing it does not condemn Hamas nor grant "Israel" the right to “self-defense.”
Israeli occupation forces issue a new bombing threat against civilian buildings in the Southern Lebanese towns of Borj Qalaouiye and Chehabiyeh.
Sources to Al Mayadeen: Extending the snapback mechanism deadline will test how independent Europeans truly are from the US.
Sources to Al Mayadeen: Activating the snapback mechanism will nullify the Cairo Agreement, shut the door on cooperation between the IAEA and Tehran, and bar inspections.
Sources to Al Mayadeen: The diplomatic window remains open, but signs of activating the snapback sanctions mechanism on Iran are increasing.
Sources to Al Mayadeen: Although the Cairo Agreement meets an important part of European demands, they have begun speaking of new conditions in recent communications.
Sources to Al Mayadeen: European countries show no independence in their stance toward Iran during the talks.
Israeli occupation forces issued bombing threats to bomb civilian buildings in Southern Lebanon.
Israeli media: Person behind shooting operation at Allenby Crossing is a Jordanian Army soldier.
Israeli media citing Emergency Services: Both wounded in Allenby shooting operation now dead.

Venezuela exports gas for the first time to Trinidad, Tobago

  • By Al Mayadeen English
  • Source: Agencies
  • 23 Dec 2023 02:03
3 Min Read

The natural gas project, a collaboration between Shell and Trinidad and Tobago's state firm National Gas Company (NGCTT.UL), is poised to achieve its first output within the next two years.

  • x
  • A man walks past a mural featuring oil pumps and wells in Caracas, Venezuela, Saturday, May 21, 2022. (AP)
    A man walks past a mural featuring oil pumps and wells in Caracas, Venezuela, Saturday, May 21, 2022. (AP)

PDVSA, the state oil company of Venezuela, has entered into an investment agreement with Trinidad and Tobago, obtaining a license to export gas from the Dragon field situated off the coast of Sucre state.

This marks Venezuela's inaugural venture into gas exports, with transactions conducted in collaboration with the national gas company, NGC, in Trinidad and Tobago.

According to the Venezuelan National Oil Company, the license issued to Shell and the National Gas Company of Trinidad and Tobago provides these entities with the authorization to produce natural gas for 30 years.

Last Thursday, Venezuela, Shell, and NGC formalized the license agreement for the Dragon project in Caracas. This landmark deal signifies a potential breakthrough for the OPEC member country, marking its potential inaugural exports of extensive offshore gas reserves.

La vicepresidenta ejecutiva Delcy Rodríguez encabezó el acto de entrega de la primera licencia para la extracción, producción y exportación de gas en “Campo Dragón” en asociación con la estatal National Gas Company (NGC) de Trinidad y Tobago y la empresa neerlandesa Shell. pic.twitter.com/mUYFBZs7y3

— PDVSA (@PDVSA) December 22, 2023

The license for the Dragon project was formally signed by Trinidad's Energy Minister, Stuart Young, and Venezuelan Oil Minister, Pedro Telechia.

Related News

Jamaica, Barbados, Trinidad & Tobago recognize Palestinian statehood

According to PDVSA's statement, the license outlines the commencement of production with an initial output of 185 million cubic feet per day of gas. This gas will be directed to Trinidad for the manufacturing of liquefied natural gas and petrochemicals.

Dragon, along with three nearby offshore gas fields, was initially discovered by PDVSA and officially designated as reserves over a decade ago.

Read next: Venezuela boosts oil production amid unilateral restrictive measures

Additionally, the company undertook the installation of infrastructure, carried out production tests, and initiated the construction of a gas pipeline extending to the coast of Venezuela.

Unfortunately, the commercial development of the project faced impediments, primarily attributable to a dearth of partners and investments. More recently, the project has encountered further challenges due to sanctions imposed by the United States.

Venezuela is actively seeking to capitalize on its extensive gas reserves, the largest in Latin America, as a strategic move to augment its revenue streams. This effort aims to complement the income generated from crude oil and fuel exports, which currently stand as the country's primary source of hard currency.

In a noteworthy development last October, Washington partially lifted sanctions on Venezuela, granting a six-month license to the Venezuelan national oil company. This license enables the company to freely export crude oil and gas to markets of its choosing, facilitating foreign investments and cash revenues.

  • Trinidad
  • Dragon gas field
  • Tobago
  • Shell

Most Read

Why is Choose Love using a firm with British and US intelligence connections to run a pro-Palestine musical event? (Al Mayadeen English; Illustrated by Batoul Chamas)

Together for Palestine: Troubling questions about the organisers of this huge event

  • Opinion
  • 17 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS