Trinidad PM Warns of Potential Risks in Venezuela Gas Deal

Trinidad PM Dr. Keith Rowley warns of potential challenges regarding the Dragon gas deal with Venezuela, citing risks from U.S. sanctions and the importance of energy stability for the country’s economy and public services.

Trinidad and Tobago’s Prime Minister, Dr. Keith Rowley, cautioned about potential challenges stemming from the Dragon gas deal with Venezuela. While he expressed confidence in the agreements between the nations, Rowley warned of a “calamity” if the U.S. revokes the necessary license or if Venezuela disables access to its gas resources. He emphasized the importance of stable energy deals to maintain government revenue and services.

During the inauguration of the Central Block of Port of Spain General Hospital, Rowley stressed that energy plays a critical role in financing national expenses like healthcare and education. He indirectly responded to opposition claims of the project’s failure, urging the public to support the Dragon gas initiative, which is vital as domestic gas reserves deplete.

Rowley emphasized the need for unity in supporting the Dragon gas project, contrasting those celebrating alleged setbacks with those at risk of financial strain. He highlighted that gaining permission from Venezuela for gas extraction is a significant achievement, particularly in the current geopolitical landscape influenced by U.S. sanctions.

Strong leadership is required to navigate these challenges, according to Rowley. He noted that losing the OFAC license would severely impact Trinidad’s economy and the availability of necessary resources. Moreover, gas fields are shared with Venezuela, and this partnership is crucial for Trinidad and Tobago’s energy security.

The Prime Minister also raised concerns about the long-term sustainability of gas supplies, questioning the future of Trinidad and Tobago if energy initiatives had not been pursued. He highlighted the reliance on energy for major revenue streams and warned that lack of gas supply could lead to difficulties in meeting government budgetary obligations, with potential impacts on subsidies for essential services.

In summary, Prime Minister Rowley stresses the critical importance of the Dragon gas agreement with Venezuela for Trinidad and Tobago’s economic stability. He cautions about the risks associated with possible license revocation by the U.S. and emphasizes the need for continued support of the gas project. The Prime Minister also highlights the ongoing challenges related to dwindling domestic gas supplies and its potential impact on public services and revenue streams.

Original Source: www.stabroeknews.com