Acting Prime Minister Young Addresses Uncertainties Surrounding Dragon Gas Deal

Acting Prime Minister Stuart Young cannot assure the Dragon gas deal’s survival after the US revoked Venezuela’s oil export license. Young is actively engaging with US embassy officials and energy companies for clarity but acknowledges the unpredictability of future dealings. He underscores the deal’s importance for Trinidad and Tobago’s energy security and criticizes opposition remarks that may jeopardize relations with Venezuela.

Acting Prime Minister Stuart Young has stated that he cannot guarantee the viability of the Dragon gas deal with Venezuela. He reaffirmed his commitment to advocate for Trinidad and Tobago’s interests as future leader, regardless of the outcome of the deal. Young’s comments follow President Donald Trump’s revocation of a license that permitted Venezuela to export oil to the United States, citing the government’s failure to address its deported nationals.

In the wake of Trump’s announcement, Young engaged with officials at the United States Embassy in Trinidad and Tobago, as well as energy companies Shell and BP, for clarifications on the impact of this decision. He noted, however, that there has thus far been no indication of adverse effects on Trinidad and Tobago, while acknowledging the unpredictability of future US government actions. The Dragon deal holds significant importance for Trinidad and Tobago’s energy security, regional stability, and international relations.

Young criticized Opposition Leader Kamla Persad-Bissessar’s comments regarding the gas deal, asserting that it is designed to benefit all citizens rather than any political party. He highlighted the anticipated gas supply, projected for delivery by 2027, which is expected to enhance foreign exchange, cover national expenses, and ensure public services like healthcare and education. Young cautioned against sanction proposals that could undermine Trinidad and Tobago’s interests.

In response to queries about the financial arrangements related to the Dragon gas deal, Young clarified that Trinidad and Tobago has a 30-year commercial agreement with Venezuela for the Dragon and Cocuina-Manakin fields. While he confirmed that payments had been made, he could not disclose specific sums as those were managed by Shell and the National Gas Company. He emphasized the customary nature of such payments in the oil and gas sector.

When questioned about the Venezuelan government’s reaction to domestic political remarks, Young refrained from commenting but acknowledged previous concerns expressed during official visits to the country. He reiterated that he had been in contact with Venezuelan authorities recently. Addressing the potential termination of US-issued licenses for the Dragon deal, Young committed to continued engagement efforts, assuring the public that he would persist in advocating for Trinidad and Tobago’s interests.

Young expressed optimism regarding Trinidad and Tobago’s partnership with Shell, noting their extensive global experience in dealing with conflict regions. He revealed that BP had indicated a favorable shift in operations within Trinidad and Tobago. While outlining future diversification plans, Young indicated that Trinidad and Tobago would not depend solely on the Dragon deal but would also explore other opportunities, such as the Loran-Manatee gas field.

Regarding the absence of a US Ambassador in Trinidad and Tobago, Young described it as a normal transition period and confirmed ongoing communication with US Embassy personnel. He acknowledged the need for legal advice on potential gas deals proceeding without US licenses and expressed that requests for high-level discussions with Trump or Rubio would be made at an appropriate time.

Finally, Young reiterates his resolve, stating that he will act in the best interests of the nation, regardless of the challenges presented by the Dragon gas deal. His commitment remains steadfast as he advocates for Trinidad and Tobago’s energy security and economic stability in his current and future roles.

In summary, Acting Prime Minister Stuart Young addressed concerns regarding the Dragon gas deal with Venezuela, highlighting the complex geopolitical landscape shaped by recent US actions. While acknowledging the deal’s significance for Trinidad and Tobago’s future, Young emphasized the government’s commitment to navigate the situation diligently. Furthermore, he stressed the ongoing efforts to secure the nation’s energy interests and economic well-being, amidst uncertainties.

Original Source: trinidadexpress.com