Trinidad and Tobago’s Prime Minister warns of potential economic calamity if the Dragon gas deal with Venezuela fails. He emphasizes the importance of energy projects to maintain revenue streams for essential services, urging positive public support for the initiative while cautioning against celebrating negative prospects. Rowley raises concerns about the future of gas supplies and government subsidies.
Prime Minister Dr. Keith Rowley has issued a warning regarding the potential consequences if the Dragon gas deal with Venezuela deteriorates. On Monday, during the ceremony celebrating the completion of the Port of Spain General Hospital Central Block, he articulated the need for stable revenues to support essential services and cautioned that the revocation of the U.S. license for the gas deal could lead to significant financial distress for Trinidad and Tobago.
He refuted claims made by the Opposition regarding the alleged failure of the Dragon gas project, instead urging citizens to support the initiative positively. Rowley emphasized the importance of energy deals for the country’s economic stability and warned against celebrating the negativity surrounding the project’s success, as it ultimately affects the livelihoods of ordinary citizens.
Rowley highlighted the achievement of securing a license to extract gas from a Venezuelan field, despite geopolitical challenges and U.S. sanctions. He stressed that the country’s economic future hinges on effective leadership and strong international partnerships, asserting that the removal of the OFAC license would signify dire consequences for Trinidad and Tobago.
He pointed out that ongoing joint ventures of gas extraction between Trinidad and Venezuela are already in place, such as Shell’s operations in the Manatee field. The Prime Minister urged caution, stating that any adverse news regarding these initiatives should not be met with celebration but rather concern for the country’s financial health.
Moreover, Rowley raised critical questions about the future of Trinidad and Tobago’s energy supply, highlighting the reliance on gas for revenue. He expressed apprehension about declining gas production over the next several years and the unsustainable nature of current subsidies that the government provides to its citizens. The Prime Minister acknowledged that while external financial support is available, it typically comes with stipulations that could further burden the populace.
In summary, Prime Minister Rowley has underscored the importance of the Dragon gas deal between Trinidad and Venezuela, warning of the dire consequences should it fail. He conjugated the need for positive public sentiment towards the project and highlighted the potential economic challenges resulting from diminishing gas supplies. Rowley’s remarks reflect an urgent call for awareness regarding the nation’s energy future and the necessity for stable revenue streams to support vital public services.
Original Source: www.stabroeknews.com
