Trinidad and Tobago: NGC Congratulates Prime Minister on OFAC License Approval

This report covers trinidad tobago: ngc congratulates with key details and context.

The National Gas Company (NGC) of Trinidad and Tobago has extended its congratulations to Prime Minister Kamla Persad-Bissessar following the recent approval of licenses by the Office of Foreign Assets Control (OFAC) related to the Dragon gas project. This announcement was made on September 30, after a meeting in Washington, D.C., between Prime Minister Persad-Bissessar and U.S. Secretary of State Marco Rubio.

The Office of the Prime Minister (OPM) stated that Secretary Rubio expressed support for the approval of the relevant OFAC licenses, which will facilitate discussions aimed at developing cross-border hydrocarbons. OFAC operates under the U.S. Treasury Department.

In a subsequent statement, Principal Deputy Spokesperson Tommy Pigott noted that Rubio emphasized U.S. backing for the Dragon gas proposal while ensuring that it would not significantly benefit the Venezuelan government led by President Nicolás Maduro. Rubio also recognized the significance of energy security for the economic prosperity of Trinidad and Tobago and regional stability.

trinidad tobago: ngc congratulates: key developments so far.

The NGC remarked that the approval of these licenses would enable Trinidad and Tobago, in collaboration with international partners and the Venezuelan government, to explore and commercialize gas from the Dragon and Manakin Cocuina gas fields.

During a news conference at Piarco International Airport on October 1, Prime Minister Persad-Bissessar highlighted her administration’s commitment to securing the OFAC license and mentioned ongoing discussions regarding other fields, including Loran/Manatee and Cocuina-Manakin. She expressed her readiness to travel to Venezuela to lead energy negotiations, asserting that the energy projects would be mutually beneficial for Trinidad and Tobago, Venezuela, and the United States.

The approval of the OFAC licenses marks a significant step in the development of the Dragon gas project, which has been a topic of interest for both Trinidad and Tobago and the United States. The collaboration is expected to enhance energy security and economic opportunities in the region.

As discussions progress, stakeholders are looking forward to the potential benefits that could arise from the exploration and commercialization of gas resources. The NGC’s support for the Prime Minister’s efforts reflects the importance of this initiative for the country’s energy sector.

In summary, the recent developments regarding the OFAC licenses and the Dragon gas project indicate a positive trajectory for energy cooperation between Trinidad and Tobago, the United States, and Venezuela. The focus on energy security and regional stability remains a priority for all parties involved.

Moving forward, the NGC and the government of Trinidad and Tobago are expected to continue their efforts in fostering partnerships that will lead to successful outcomes in the energy sector, benefiting not only the local economy but also contributing to broader regional energy strategies.