Trinidad signs non-disclosure agreement with PDVSA

The content originally appeared on: News Americas Now

Black Immigrant Daily News

The content originally appeared on: Caribbean News Service
Oil Barrels

The Trinidad and Tobago government says it has signed a non-disclosure agreement with the state-owned Venezuelan oil company, Petr?leos de Venezuela (PDVSA) as efforts continue for Port of Spain to benefit from the billion-dollar Dragon Gas project.

“We executed a confidentiality agreement (Non-Disclosure Agreement) which governs the negotiations between the parties and the exchange of information as we progress the technical and commercial aspects of the planned development,” Energy and Energy Industries Minister, Stuart Young wrote on his Facebook page on Tuesday.

Young is leading a delegation to Caracas for the talks, including Eugene Okpere, Senior Vice President of Shell Trinidad and Tobago.

He said the PDVSA is being led by its president, Pedro Rafael Tellechea, and included PDVSA vice presidents.

Young last month visited the South American country where he met with Venezuelan Vice President Delcy Rodrigues, to discuss hydrocarbons and joint projects.

The Dragon deal, if successful, will give Trinidad and Tobago access to the field said to be holding about 4.2 tscf (trillion standard cubic feet) of natural gas. The project will be able to feed an approximated 150 mscf/day (million standard cubic feet per day) to the country.

On January 24, this year, the United States Treasury Department agreed to grant a license to Port of Spain to develop a major gas field located in Venezuelan territorial waters, there was not much more to be said.

“They tell a country it has permission to negotiate with Venezuela, but it cannot pay in dollars or any form of cash. It must pay with food or products,” Maduro said, adding “that is colonialism”.

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