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TOBAGO People’s Party (TPP) political leader Farley Augustine says the US government’s decision to revoke the licences it had previously granted to allow Tt to monetise gas from the Dragon and Manakin-Cocuina cross-border gas fields with Venezuela reflects the need for this country to diversify its economy.

Prime Minister Stuart Young announced the development on April 8 during a news conference at Whitehall, Port of Spain. The licences were granted to TT by the US Department of the Treasury’s Office of Foreign Assets Control.

Addressing a political meeting in Plymouth on April 8, Augustine described the news as unfortunate.