Trinidad and Tobago’s Plea to Trump Administration for Extension of Gas Project License in Venezuela
Trinidad and Tobago, a twin-island nation located in the Caribbean, is reportedly planning to approach the U.S. President Donald Trump’s administration with a request to extend the licenses of Shell and the National Gas Company of Trinidad and Tobago (NGCTT) to continue the development of the controversial Gaspari project in Venezuela, according to four sources familiar with the matter. This project is of significant importance to Trinidad and Tobago, as it is expected to provide a crucial gas supply to the country.
Background of the Gaspari Project
The Gaspari project, which is located in the Orinoco region of Venezuela, is a joint venture between Shell and NGCTT. The project involves the development of a gas field, which is estimated to contain around 1.2 trillion cubic feet of natural gas. This gas is intended to be transported to Trinidad and Tobago via a pipeline that runs through the Caribbean Sea. The project has been in development since 2009, but it has faced numerous delays and challenges, including political instability in Venezuela and logistical issues.
The Request for Extension
The sources mentioned that Trinidad and Tobago’s government is seeking an extension of the licenses for Shell and NGCTT to continue the development of the Gaspari project due to the current uncertainty surrounding the project. The sources also indicated that the request is being made in light of the ongoing political instability in Venezuela, which has hindered the progress of the project. The sources added that the Trinidadian government is hoping that the Trump administration will be sympathetic to their cause and grant the extension.
Impact on Trinidad and Tobago
The Gaspari project is of critical importance to Trinidad and Tobago, as the country is heavily reliant on natural gas for its energy needs. According to the Trinidad and Tobago Energy Chamber, the country’s energy sector accounts for around 40% of its Gross Domestic Product (GDP). The extension of the licenses for Shell and NGCTT would provide a much-needed boost to the country’s economy, as the Gaspari project is expected to create jobs and generate revenue.
Impact on the World
The Gaspari project is not just significant for Trinidad and Tobago, but also for the global energy market. The project is expected to increase the global supply of natural gas, which could help to stabilize prices and reduce the reliance on more polluting energy sources such as coal and oil. Moreover, the project could also strengthen the energy relationship between Trinidad and Tobago and the United States, as the U.S. is a major consumer of natural gas.
Conclusion
Trinidad and Tobago’s request for an extension of the licenses for Shell and NGCTT to continue the development of the Gaspari project in Venezuela is a significant development, not just for the country, but also for the global energy market. The project is expected to provide a crucial gas supply to Trinidad and Tobago, boosting its economy and reducing its reliance on more polluting energy sources. Furthermore, the project could also increase the global supply of natural gas, stabilizing prices and reducing the reliance on coal and oil. However, the request is being made against the backdrop of ongoing political instability in Venezuela, which could complicate matters.
- Trinidad and Tobago is seeking an extension of licenses for Shell and NGCTT to develop the Gaspari project in Venezuela.
- The project is of critical importance to Trinidad and Tobago, as the country is heavily reliant on natural gas for its energy needs.
- The extension of the licenses would provide a much-needed boost to the country’s economy, creating jobs and generating revenue.
- The project is also significant for the global energy market, as it is expected to increase the global supply of natural gas and reduce reliance on coal and oil.
- The request is being made in light of ongoing political instability in Venezuela, which could complicate matters.
