Dragon gas deal dead, Cocuina-Manakin also shelved as US revokes Venezuela gas exploration licences
Politics
Elections 2025
Business
DP
April 9, 2025Dareece Polo
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In a blow to this country’s progress on major cross-border natural gas deals with Venezuela, Prime Minister Stuart Young yesterday announced that the United States had revoked this country’s Office of Foreign Assets Control (OFAC) licences which facilitated the development of both the Dragon and Cocuina-Manakin gas fields.
Young announced Washington’s decision during a media conference at Whitehall, Port-of-Spain.
The OFAC licence for Cocuina-Manakin was granted on May 31, 2024 and was valid until May 31, 2026, while the revised licence for the Dragon gas field was granted on October 17, 2023, and was set to expire on October 31, 2025.
Politics
Elections 2025
Business
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