T&T’s position as a “first mover” in accessing Venezuelan natural gas could prove critical to both its own energy security and wider Caribbean integration, independent consultant Verlier Quan-Vie has said.
Speaking at Caribbean Energy Week in Paramaribo, Quan-Vie outlined how over a decade of technical, legal and geopolitical navigation has positioned Trinidad and Tobago to capitalise on cross-border gas opportunities, even amid persistent global uncertainties.
Addressing a panel titled “First Mover Advantage in Venezuela’s Frontier”, she said the push to develop the Dragon Gas Project was driven by domestic supply shortages that emerged after 2010, forcing policymakers to look outward for sustainable solutions.
“The reality is that Trinidad and Tobago needed to secure additional gas supply, and Venezuela presented the most viable option,” she indicated, pointing to the countries’ shared maritime boundary and existing energy infrastructure.
Quan-Vie noted that formal collaboration began in 2016 with a government-to-government agreement, laying the groundwork for what has since evolved into one of the region’s most closely watched energy initiatives. Despite the imposition of sweeping United States sanctions on Venezuela, she said the project remained alive through sustained engagement by the Government of Trinidad and Tobago, the National Gas Company (NGC) and Shell.
That persistence culminated in 2023 with the acquisition of a two-year licence from the US Office of Foreign Assets Control (OFAC), providing the regulatory clearance needed to advance the project while safeguarding future investments.
Quan-Vie argued that Trinidad and Tobago’s established gas-processing infrastructure gives it a decisive advantage, allowing for the rapid commercialisation of Venezuelan gas once supply is secured.
“We have the capacity, we have the market, and we have the experience. That combination places us in a unique position within the region,” she said.
She also expressed confidence in Venezuela’s resource base, noting that its substantial gas reserves are capable of meeting both domestic demand and regional export needs.
However, she cautioned that risks remain. While recent amendments to Venezuela’s hydrocarbons law signal a more open investment climate, historical volatility continues to weigh on investor confidence.
“Any project of this scale requires strong contractual protections, rigorous due diligence and a clear understanding of geopolitical realities,” she warned.
Her remarks come as the Caribbean intensifies efforts to deepen energy cooperation and reduce vulnerability to external shocks.
Energy strategist Anthony Paul, also speaking at the conference, underscored the need for disciplined, coordinated policy-making across the region. He cautioned against over-reliance on legislation alone to drive sector growth, arguing that without strong institutions and enforcement, policy frameworks risk becoming ineffective.
During his workshop, “The Anatomy of a Viable Local Content Decree”, Paul stressed that successful energy development hinges on building human capacity, strengthening regulatory systems and ensuring transparency.
“Local content is not just about quotas—it is about creating real, sustainable value within economies,” he said.
He further argued that energy projects must be leveraged as tools for broader development, linking resource extraction to improvements in livelihoods and national competitiveness.
As Trinidad and Tobago seeks to secure new gas supplies and reposition its energy sector, the message from industry experts is clear: opportunity exists, but only for those prepared to navigate the complexities with strategy and discipline.
