Business groups across the country continued to hail the news that the United States government had granted a licence allowing T&T to develop Venezuela’s Dragon Gas Field.
In a press release, the American Chamber of Commerce of T&T said it welcomed the decision by the Biden-Harris administration and congratulated the T&T government for their successful lobbying, led by Prime Minister Dr Keith Rowley and Energy Minister Stuart Young.
“This demonstrates how pivotal leadership around a clearly defined objective can be,” Amcham T&T said.
The chamber also hailed the work done by Ambassador Candace A Bond and the team at the US Embassy in T&T. Amcham T&T said it is “optimistic that this license will strengthen our nation’s energy security, which will also, prove beneficial to other countries in this hemisphere and beyond.”
“This new development will allow some of the pre-work to be progressed so it is a very positive step and we are optimistic that the details that would allow gas to flow can be worked out in short order,” Amcham T&T stated.
The Confederation of Regional Business Chambers chairman, Vivek Charran, also stated he was pleased with the development.
Charran said in a release, “The CRBC thanks the United States Government, and in particular Vice President Kamala Harris for her committed efforts in granting this sanctions waiver.”
He, however, pushed for urgent action to make maximum use of the opportunity as soon as possible. “The Government has to move with haste and speed to have all the necessary approvals from the international institutions (regarding how to navigate the international sanctions waiver) and the local regulatory bodies. One of our nation’s concerns is continuity and sustainability of gas supply, and this is my key reason for urging Government to move at a quick pace,” Charran stated.
Charran added, “The Ministry of Energy has to have a thorough but fast turnaround on bid evaluations, and announce winner(s), if any – within three/four months. On top of that, it is also critical for Government to monetise the gas reserve that is within the Dragon field, as this will be of significant benefit to the people of T&T.”
Charran called on Minister Young to meet with all the state agencies involved in these processes, including the EMA, Customs Division, Town and Country Division, National Gas Company NGC and Heritage Petroleum, to ensure they are on the same page with regard to this goal and that those agencies have a defined method to achieve successful action on the opportunity.