According to a Reuters’ report, the government of the Caribbean twin island Republic Trinidad and Tobago has asked the United States to authorize Venezuelan gas imports to restart an idled liquefaction train in the country.
Under U.S. sanctions, companies and governments must obtain authorization from the U.S. Department of Treasury to do business with the Venezuelan state-run oil company PDVSA.
Trinidad’s past requests for U.S. approval have gone unanswered, but the U.S. Biden administration’s willingness to ease some sanctions on Venezuela if President Nicolas Maduro and the opposition progress in talks for a presidential election could provide a new opportunity.
The gas would mainly come from Venezuela’s Dragon field off the country’s eastern coast, where PDVSA has found reserves of 4.2 trillion cubic feet.
The project was headed for production almost a decade ago but stalled over a lack of capital, partners, and sanctions.
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Edited by Jesus Chan
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