The Trinidad and Tobago government Tuesday welcomed the decision by the United States Treasury Department to grant a license to the Caribbean Community (CARICOM) country to develop a major gas field located in Venezuelan territorial waters.
“The United States government has today approved Trinidad and Tobago’s development of the Dragon gas field via an OFAC waiver from sanctions with specific terms to be finalized,” Prime Minister Dr. Keith Rowley told a news conference.
‘What this means is that the restrictions on the Dragon gas fields development is now relieved and all relevant parties can progress the plans to result in natural gas from Venezuela eventually flowing for the first time from these proven reserves to Trinidad and Tobago and then on to Caribbean, European, and other markets bringing much humanitarian benefits to the Venezuelan population and greater energy security to the Caribbean region”.
Rowley described the announcement by Washington as “a happy and significant day” for Trinidad and Tobago as well as for the wider Caribbean Forum (CARIFORM) region that includes the Dominican Republic.
“This is a significant development with far reaching consequences and it behooves me from this podium to say thank you to a number of people who went out of their way to be of assistance to us to bring about an understanding of this situation where the decisions are being made.”
Rowley said while there are “still a lot more work to be done, this is a giant step forward” acknowledging the role played by US Congresswoman, Maxine Waters “who we in CARICOM regard as our…representative from the Caribbean” and other US legislators from “both sides of the aisle.
“The end result is that there was a general feeling, a consensus that was built from persons both on the Republican side, the Democratic side that it would be a good thing for all if Trinidad and Tobago’s spare capacity was put to use to supply the clean fuel, LNG (liquefied petroleum gas) fertilizers which are important…
“So we are very grateful we are in this position now where the planning can be accelerated and we can come to a day when the reserves from our neighbor can come to our infrastructure and feed the demands as they exist within our region and outside of our region,” Rowley told reporters.
The US license means Trinidad and Tobago will be allowed to resume doing business with Venezuelan heavily sanctioned state-run oil company PDVSA, even though the Maduro regime in Caracas will not be permitted to receive any cash payments from this project.
Political observers in Washington said all remaining US sanctions will remain unchanged and still be enforced.
CMC/
