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Israeli energy company pursues 60% stake in Venezuela as questions grow over T&T’s delayed Dragon and Loran gas agreements. November 13, 2026 | ENERGY & ECONOMY An Israeli energy company is positioning itself to acquire a controlling stake in a Venezuelan oil business, while Trinidad and Tobago, Venezuela’s closest Caribbean energy neighbour, is still working to finalise critical agreements needed to unlock its cross-border natural gas projects. The development raises an uncomfortable question: How is a company from thousands of miles away advancing a new investment in Venezuela while Trinidad and Tobago, with decades of energy cooperation, existing infrastructure and billions of dollars in potential gas resources, is still waiting for key agreements to be signed? On November 10, Israeli energy company NewMed Energy disclosed that it had entered exclusive negotiations to acquire a 60% stake in an unnamed Venezuelan petroleum company. The target company holds interests in onshore oil assets, including several producing wells. The proposed acquisition could also include additional offshore and onshore oil and gas interests. The negotiations are exclusive until January 1, 2027. Importantly, the acquisition is not yet completed. NewMed must conduct due diligence, negotiate binding contracts and obtain the required approvals. Nevertheless, the development signals growing international commercial interest in Venezuela’s reopened energy sector. Meanwhile, Trinidad and Tobago is still negotiating For Trinidad and Tobago, the contrast is striking. The Dragon gas project has been under negotiation for years. The country secured a United States sanctions waiver in 2023, followed by agreements with Venezuela intended to facilitate the development and export of natural gas to Trinidad. Yet three years later, the country is still working through outstanding arrangements. On October 20, 2026, the Ministry of Energy disclosed that it could not locate original executed copies of the Dragon fiscal measurement agreement or a final signed English version. A signed Spanish copy was found attached to a January 2024 Cabinet Note. The disclosure raised fresh concerns over the administrative and contractual management of a project of national economic importance. On November 7, Energy Minister Dr Roodal Moonilal insisted that US licences for the Dragon and Loran projects were secured and that the Government remained confident about their development. However, he acknowledged that technical teams still needed to travel to Venezuela to resolve outstanding provisions before the two countries’ energy ministers could sign the agreements. The Government is targeting the end of November for completion. Meanwhile, the latest stated target for first gas from Dragon remains 2028, with projected peak production of approximately 415 million standard cubic feet per day. Is Trinidad and Tobago losing its strategic advantage? The Israeli proposal and Trinidad and Tobago’s gas arrangements are not identical transactions. NewMed is negotiating a corporate acquisition involving existing petroleum assets. Trinidad and Tobago is pursuing cross-border gas development that requires government agreements, measurement arrangements, infrastructure investment and regulatory approvals. NewMed has not secured a completed acquisition, while Trinidad and Tobago has already achieved important licensing and commercial milestones. But the difference does not eliminate the bigger economic concern. Venezuela is attracting renewed attention from international investors. ExxonMobil is also examining potential petroleum developments in the country, while Shell and other companies are pursuing new opportunities. Capital is looking for commercially viable projects. Trinidad and Tobago already possesses a strategic asset that many new entrants lack: established gas-processing, LNG and petrochemical infrastructure located close to Venezuelan reserves. Yet proximity alone guarantees nothing. Every delay in bringing additional gas into Trinidad has implications for LNG production, petrochemical utilisation, foreign exchange earnings, government revenue and employment. The country cannot afford to confuse diplomatic engagement, licences and announced timelines with actual commercial delivery. The question is no longer who gets there first Trinidad and Tobago’s challenge is not simply competition from Israel or other international investors. It is whether the country can convert its geographic advantage and established relationships into bankable agreements, investment decisions and reliable gas supplies. The critical questions now facing the Government are straightforward: Will the Dragon and Loran agreements be signed before November 30, as projected? Have all the necessary regulatory, technical and commercial conditions been satisfied? What remains between the current negotiations and a final investment decision? Can Trinidad and Tobago protect its role as a regional gas-processing hub as Venezuela attracts new investors? NewMed’s announcement is not proof that Israel has jumped ahead of Trinidad and Tobago. But it is another indication that international companies are positioning themselves for Venezuela’s next energy investment cycle. Trinidad and Tobago may be Venezuela’s closest energy neighbour. But in international business, geography does not guarantee opportunity. Execution does. The real test will not be how many agreements are announced, but how quickly those agreements translate into gas production, jobs, export earnings and economic growth. Venezuela’s energy sector is attracting new investors. The question for Trinidad and Tobago is whether it can turn years of negotiations into results before the next wave of investment reshapes the regional energy market.
Israeli energy company pursues 60% stake in Venezuela as questions grow over T&T’s delayed Dragon and Loran gas agreements.
November 13, 2026 | ENERGY & ECONOMY
An Israeli energy company is positioning itself to acquire a controlling stake in a Venezuelan oil business, while Trinidad and Tobago, Venezuela’s closest Caribbean energy neighbour, is still working to finalise critical agreements needed to unlock its cross-border natural gas projects.
The development raises an uncomfortable question: How is a company from thousands of miles away advancing a new investment in Venezuela while Trinidad and Tobago, with decades of energy cooperation, existing infrastructure and billions of dollars in potential gas resources, is still waiting for key agreements to be signed?
On November 10, Israeli energy company NewMed Energy disclosed that it had entered exclusive negotiations to acquire a 60% stake in an unnamed Venezuelan petroleum company.
The target company holds interests in onshore oil assets, including several producing wells. The proposed acquisition could also include additional offshore and onshore oil and gas interests.
The negotiations are exclusive until January 1, 2027.
Importantly, the acquisition is not yet completed. NewMed must conduct due diligence, negotiate binding contracts and obtain the required approvals.
Nevertheless, the development signals growing international commercial interest in Venezuela’s reopened energy sector.
Meanwhile, Trinidad and Tobago is still negotiating
For Trinidad and Tobago, the contrast is striking.
The Dragon gas project has been under negotiation for years. The country secured a United States sanctions waiver in 2023, followed by agreements with Venezuela intended to facilitate the development and export of natural gas to Trinidad.
Yet three years later, the country is still working through outstanding arrangements.
On October 20, 2026, the Ministry of Energy disclosed that it could not locate original executed copies of the Dragon fiscal measurement agreement or a final signed English version. A signed Spanish copy was found attached to a January 2024 Cabinet Note.
The disclosure raised fresh concerns over the administrative and contractual management of a project of national economic importance.
On November 7, Energy Minister Dr Roodal Moonilal insisted that US licences for the Dragon and Loran projects were secured and that the Government remained confident about their development.
However, he acknowledged that technical teams still needed to travel to Venezuela to resolve outstanding provisions before the two countries’ energy ministers could sign the agreements.
The Government is targeting the end of November for completion.
Meanwhile, the latest stated target for first gas from Dragon remains 2028, with projected peak production of approximately 415 million standard cubic feet per day.
Is Trinidad and Tobago losing its strategic advantage?
The Israeli proposal and Trinidad and Tobago’s gas arrangements are not identical transactions.
NewMed is negotiating a corporate acquisition involving existing petroleum assets. Trinidad and Tobago is pursuing cross-border gas development that requires government agreements, measurement arrangements, infrastructure investment and regulatory approvals.
NewMed has not secured a completed acquisition, while Trinidad and Tobago has already achieved important licensing and commercial milestones.
But the difference does not eliminate the bigger economic concern.
Venezuela is attracting renewed attention from international investors. ExxonMobil is also examining potential petroleum developments in the country, while Shell and other companies are pursuing new opportunities.
Capital is looking for commercially viable projects.
Trinidad and Tobago already possesses a strategic asset that many new entrants lack: established gas-processing, LNG and petrochemical infrastructure located close to Venezuelan reserves.
Yet proximity alone guarantees nothing.
Every delay in bringing additional gas into Trinidad has implications for LNG production, petrochemical utilisation, foreign exchange earnings, government revenue and employment.
The country cannot afford to confuse diplomatic engagement, licences and announced timelines with actual commercial delivery.
The question is no longer who gets there first
Trinidad and Tobago’s challenge is not simply competition from Israel or other international investors.
It is whether the country can convert its geographic advantage and established relationships into bankable agreements, investment decisions and reliable gas supplies.
The critical questions now facing the Government are straightforward: Will the Dragon and Loran agreements be signed before November 30, as projected? Have all the necessary regulatory, technical and commercial conditions been satisfied? What remains between the current negotiations and a final investment decision? Can Trinidad and Tobago protect its role as a regional gas-processing hub as Venezuela attracts new investors?
NewMed’s announcement is not proof that Israel has jumped ahead of Trinidad and Tobago. But it is another indication that international companies are positioning themselves for Venezuela’s next energy investment cycle.
Trinidad and Tobago may be Venezuela’s closest energy neighbour. But in international business, geography does not guarantee opportunity. Execution does.
The real test will not be how many agreements are announced, but how quickly those agreements translate into gas production, jobs, export earnings and economic growth.
Venezuela’s energy sector is attracting new investors. The question for Trinidad and Tobago is whether it can turn years of negotiations into results before the next wave of investment reshapes the regional energy market.
News Desk is the editorial publishing account for Tringlobe Media News, covering breaking news, public affairs, entertainment, community developments and regional stories across Trinidad and Tobago, the Caribbean and internationally.
