Energy Minister Stuart Young yesterday led a delegation from this country to Caracas to meet with Executive Vice President of Venezuela Delcy Rodríguez in the first high-level visit there following the United States’ decision to waive sanctions against that country and clearing the way for the development of the Dragon Gas field.
Video from Venezuelan state media VTV showed T&T’s ambassador to Venezuela Edmund Dillon, President of the National Gas Company Mark Loquan along with Venezuela’s oil minister Tareck El Aissami in the meeting.
According to the state media, the purpose of the meeting was to deepen strategic relations and boost the cooperation between Venezuela and T&T.
“Both countries have historically promoted alliances in the sector energy and gas as the engine of its economy the economic-commercial relationship between the two countries is framed within the strategic cooperation for the development of projects in the field of hydrocarbons,” it stated.
“The meeting takes place as part of the Bolivarian Peace Diplomacy and the occasion is propitious to review the ties of solidarity, mutual respect and bilateral cooperation between both neighbouring nations,” it stated.
According to VTV, Venezuela has “ratified its will to strengthen the cooperation and brotherhood agreements with the neighbouring Caribbean republic, for the benefit of both peoples and nations.”
Prime Minister Dr Keith Rowley on Friday told Parliament his government had been in touch with Venezuela and the first meeting to begin negotiations had been set up.
On whether the Venezuelan Government has officially agreed to the terms and conditions stipulated by the US, Rowley said, “This is a matter that requires state-to-state communication, the first hurdle has been crossed.”
He said the Venezuelan Government has made no public statements specific to T&T ‘s use of the licence granted by the US.
“We are in touch with Venezuela, we have meetings scheduled and negotiations ahead of us therefore I can say nothing further at this time.”
In a broadcast on Thursday, President of Venezuela Nicolas Maduro condemned the decision by the United States to grant licenses to countries and companies to resume taking crude oil from Caracas on the condition no funds be paid to Venezuela.
“They tell a country it has permission to negotiate with Venezuela, but it cannot pay in dollars or any form of cash. It must pay with food or products,” Maduro said, adding “that is colonialism.”
The US license means Trinidad and Tobago will be allowed to resume doing business with Venezuelan heavily sanctioned state-run oil company PDVSA, even though the Maduro regime in Caracas will not be permitted to receive any cash payments from this project.
“It is a joke to sovereign countries. I call on sovereign countries and governments in America and the Caribbean to denounce this colonial model. We do not accept it, we will go on our way,” he said without elaborating.
PDVSA has found reserves of 4.2 trillion cubic feet (TCF) in the Dragon field, on the Venezuelan side of its maritime border with Trinidad. The project was headed for production over a decade ago, but stalled over lack of capital and partners, as well as sanctions.