INSUBCONTINENT EXCLUSIVE:
million cubic meters of gas
The area neighbors Trinidadian fields run by Shell, a British oil firm.In 2016, Trinidad and Venezuela agreed to study joint field
They signed a document to guide their efforts.Trinidad Navigates Complex Gas Field Deal with Venezuela
(Photo Internet reproduction)But U.S
sanctions on Venezuela have made things tough
gave Trinidad permission to develop the Dragon field
The catch was no money payments to Venezuela.Rowley states that this payment issue is the biggest hurdle now
To find a solution, the energy minister has often met with U.S
He insists that both nations are free and independent.Maduro also stated that the U.S
limits how Venezuela can receive payment for the gas
countries in energy projects
Venezuela has vast natural resources, especially oil and gas.Despite its resources, the country faces economic challenges.The U.S
sanctions on Venezuela began around 2014
The sanctions are part of the U.S
strategy to promote democratic change in Venezuela.Talks between Trinidad and Venezuela began before these sanctions
These sanctions have stalled many potential deals.The U.S
has strict control over foreign assets through its OFAC office
This office gave Trinidad the special permit for the Dragon field.
