PM, US government officials hold energy talks

PRIME Minister Stuart Young has held discussions with US government officials on several energy matters.

A statement from the Office of the Prime Minister (OPM) on April 14, said those discussions took place at Whitehall earlier in the day.

Young met with US Embassy Chargé d’Affaires Dr Jenifer Neidhart de Ortiz and the Embassy Deputy Chief of Mission Charlie Franta.

The OPM said, "This morning’s discussions focused on energy related matters including energy security for Trinidad and Tobago and the wider region."

At a news conference at Whitehall on April 8, Young announced the US Treasury Department's Office of Foreign Assets Control (OFAC) had revoked licences issued for the Dragon and Manakin/Cocuina fields in Venezuela.

“I can tell TT, because I don’t have more details than that, that I have been in touch with our attorneys-at-law in Washington, DC. There is a process for, I wouldn’t say appeal of this revocation, but for you to make an application for it not to be, or for there to be amendments. We are going to be engaging that process on behalf of TT.”

Young said he had reached out to US Special Envoy for Latin America and the Caribbean Mauricio Claver-Carone and requested a telephone call with US Secretary of State Marco Rubio.

“I expect us to have the opportunity on behalf of TT to present our case. This doesn’t come necessarily as a surprise seeing how volatile things are not only with respect to the policy with Venezuela but what we’re seeing with the imposition of tariffs.”

He said based on the personal discussions he had with Claver-Carone and Rubio, as well as others being pursued, he expects TT will be given an audience and the opportunity to continue to make out its case.

“There is a process that allows you to advocate for why this shouldn’t be taken. There is a wind-down period, it is not immediate. The wind-down period for this is until May 27, which allows you an opportunity before it kicks in fully for you to engage with the US.

“The good thing is they understand and have taken careful note of what it is TT can do. I am going to have more discussions with them but they understand what we can do, and it’s not only in the energy sector.”

On December 21, 2023, the Venezuelan government issued the licence to NGC (National Gas Company) and Shell to develop and export natural gas from the Dragon gas field to TT.

The OFAC played a key role in granting this licence under the Biden administration.

Concerns were raised about whether the Dragon project could be in jeopardy after Donald Trump won the presidential election on November 4. The US$1 billion Dragon gas deal was first signed between TT and Venezuela in August 2018. But it was left in limbo after the US imposed sanctions on Venezuela in 2019. Trump was president at that time.

In a letter to Trump on November 6, Rowley said, “The Republic of TT and the USA share a long and enduring relationship, founded on deep ties across many sectors, including trade, security, culture and people-to-people exchanges.”

Rowley added, “We look forward to further strengthening our co-operation in the years ahead.”

Reuters reported on February 25 that government would meet with the US to extend the licence for the Dragon project.

At the TT Energy Conference in Port of Spain on February 11, Rowley said government intends to engage the Trump administration on the importance of several energy projects, including the Dragon project and the Manakin/Cocuina project.

He said the projects were important not only to TT, but also to the region’s energy security.

Last July, government secured a 20-year licence from Venezuela for bpTT to exploit the Cocunia field on the Venezuela side of the unified one trillion cubic feet Manakin/Cocunia field of which bpTT already has an operatorship of the Manakin part lying in TT water.