NGC congratulates PM on OFAC licence approval

THE National Gas Company (NGC) has congratulated Prime Minister Kamla Persad-Bissessar, following announcements by the Office of the Prime Minister (OPM) and the US State Department on September 30 that the Dragon gas project has been resurrected.

These announcements were made after a meeting in Washington, DC, between Prime Minister Kamla Persad-Bissessar and US Secretary of State Marco Rubio earlier that day.

The OPM statement said after the meeting, government was informed that Rubio "supports the approval of the relevant Office of Foreign Assets Control (OFAC) licences to begin discussions toward developing its cross-border hydrocarbons." OFAC falls under the US Treasury Department.

A subsequent statement issued by Principal Deputy Spokesperson Tommy Pigott said Rubio "outlined US support for the government’s Dragon gas proposal and steps to ensure it will not provide significant benefit to the (Venezuelan President Nicholas) Maduro regime."

Piggott said Rubio acknowledged the importance of energy security to Trinidad and Tobago’s economic prosperity and regional stability.

NGC said, "The approval of these licences will open the door for this country, in conjunction with our international partners and the Venezuelan government, to explore and bring to market gas from the Dragon and Manakin Cocuina Gas fields."

NGC chairman Gerald Ramdeen said, "Our Prime Minister, against all odds, has delivered on her promise to return TT to its rightful position as this region’s energy hub and leader in the development of hydrocarbon resources throughout the Caribbean and wider region."

At a news conference at Piarco International Airport on October 1, Persad-Bissessar said, “From day one when we came into office, we began work on that OFAC licence (for Dragon).”

She added, “We had discussions further with Secretary Rubio on other fields – Loran/Manatee and Cocuina-Manakin.”

The PM said she was prepared to fly to Venezuela to lead the energy negotiations with that country. She said Foreign Minister Sean Sobers as well as the energy ministers were also capable.

She said she does not anticipate any problems in hammering out a deal as the energy projects benefit Venezuela, TT and the US.