U.S. Balance of Power in Trinidad’s Dragon Gas Deal

u.s. balance power trinidad’s: key developments so far.

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The Dragon Gas project in Trinidad and Tobago has been a topic of major discussion, with confusion surrounding the role of the United States in its approval process. The U.S, due to its strained relations with Venezuela, has imposed heavy sanctions on the country’s energy sector, monitored by the Office of Foreign Assets Control (OFAC). These sanctions not only affect U.S companies but also global energy transactions, as they mostly occur in U.S dollars and use banking systems under U.S jurisdiction. Trinidad and Tobago, therefore, could not sign an energy deal with Venezuela without U.S authorization, as it would risk financial penalties and transaction issues. The U.S has granted Trinidad a tiered authorization for the project, valid until April 2026. However, this is a staged approval process, requiring U.S review at every stage and cooperation from Venezuela. Trinidad’s access to Dragon Gas is thus dependent on U.S set conditions and Venezuela’s agreement. Despite the U.S’s non-engagement policy with Venezuela, it influences how Venezuelan gas reaches global markets via this authorization. Trinidad, therefore, can only secure energy supplies within the U.S sanctions framework.

u.s. balance power trinidad’s: key developments so far.

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