CARACAS.- Venezuela y Trinidad and Tobago They formalized a strategic agreement with the British company Shell for the production and export of gas, which involves the state-owned Petróleos de Venezuela (PDVSA) and the National Gas Company of Trinidad and Tobago (NGC).
The Minister of Energy of Trinidad and Tobago, Stuart Youngunderlined the importance of the license granted to Shell to operate in the Dragon field, a field located in the northeast of Venezuela, close to the maritime border with Trinidad and Tobago.
“Today is a great day for both Venezuela and Trinidad and Tobago. We have come a long way to reach this milestone,” said the Minister of Energy of Trinidad and Tobago.
For her part, the vice president of the Venezuelan regime, Delcy Rodrigueznoted that “with this project, Venezuela undertakes the production and export of gas for the first time.”
It should be noted that this agreement is the culmination of a memorandum of understanding signed in 2016 between Venezuela and Trinidad and Tobago, which, according to the Venezuelan regime, paved the way for technical and commercial studies with a view to shared exploitation. The renewal of these plans in September 2023 consolidated the collaboration for the joint exploitation of gas in the Dragon field.
Gas crisis in Venezuela
Although the advertisement may sound very positive and encouraging, the reality behind closed doors is very different. Venezuela is immersed in a complex gas crisis that impacts various sectors of its economy. According to review As it isa report by Gas Energy Venezuela, the demand for natural gas has experienced a marked contraction in the last three years, especially affecting key industries such as iron and steel, as well as the industry in general.
The low operability of the industry, which currently operates at only 40% of its installed capacity on average, is attributed to structural problems in different productive sectors. This scenario raises questions about Venezuela’s ability to meet export commitments while struggling with domestic gas shortages.
The paradox is accentuated when considering the domestic gas situation in the country. The lack of a serious massification policy has generated inequalities in the development of residential gas, with deteriorated methane gas networks and a significant decrease in the quality of service. While gas exports are announced, local communities face difficulties in domestic supply, exacerbating the complexity of the situation.
The signing of the agreement to export gas could represent an opportunity to diversify the country’s income, but simultaneously highlights the urgent need to address internal problems that affect the availability and equitable distribution of this essential resource.
Source: With information from AFP and Tal Cual
