Three weeks ago, Trinidad and Venezuela reached an agreement on the supply of gas from the latter’s Dragon Field through the creation of a 17km undersea pipeline that will link it to the National Gas Company of Trinidad’s offshore Hibiscus Platform.
The arrangement will enable Venezuela for the first time to monetise internationally the natural gas from its Mariscal Sucre offshore fields, while enabling Trinidad to have a cheap sustainable energy supply at a time of declining national production.
Shell, whose executives were present at the signing and holds the right to drill on the Dragon Field and is a shareholder in the Hibiscus Platform, is likely to be a significant beneficiary through a joint special purpose company.
