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Are T&T’s hopes of se­cur­ing long-term en­er­gy se­cu­ri­ty through Venezuela’s Drag­on gas project are fad­ing fast?

What was once tout­ed as a game-chang­ing arrange­ment now looks in­creas­ing­ly frag­ile, un­der­mined by Venezuela’s po­lit­i­cal tur­moil- the over­throw of Venezue­lan Pres­i­dent Nicolás Maduro in Cara­cas, its col­laps­ing oil in­fra­struc­ture and the un­pre­dictable weight of US sanc­tions.

Lead­ing voic­es in the en­er­gy and eco­nom­ic sec­tors weigh in on the fu­ture of Drag­on gas, with for­mer en­er­gy min­is­ter Kevin Ram­nar­ine warn­ing that the project’s le­gal stand­ing re­mains cloud­ed by the short-lived US Of­fice of For­eign As­sets Con­trol (OFAC) li­cence and Venezuela’s abrupt de­ci­sion to re­scind agree­ments with this coun­try.