Australian oil and gas producer Woodside Energy would like to see improved fiscal terms from the Trinidad and Tobago government before committing to develop a deepwater natural gas project there, CEO Meg O Neill told Reuters this week.
It is not at all clear that this confidence in Caracas is warranted. The expectation that cooperation with Venezuela will yield rapid results is probably ill-founded.
Shell PLC and Trinidad and Tobago s National Gas Company (NGC) were awarded a license by Venezuela on Thursday to develop the 4.2 trillion cubic feet (TCF) Dragon gas field and export its production to the Caribbean nation.
A disagreement between Shell PLC and Venezuela s state company PDVSA over future liquefied natural gas (LNG) prices has gridlocked talks on a license for Shell and Trinidad and Tobago s National Gas Company to operate a Venezuelan gas field, two people close to the negotiations said.
Shell PLC has given financial approval for the development of the massive Manatee gas field offshore Trinidad and Tobago, the country s Prime Minister Keith Rowley said on Thursday.