Prime Minister Stuart Young is committed to advancing Trinidad and Tobago’s energy agreements, focusing on the Dragon project with Venezuela. He indicated that recent U.S. policy changes could impact these deals. Young also plans to address foreign exchange issues in an upcoming meeting with banking officials.
Prime Minister Stuart Young has announced ongoing efforts to solidify cross-border energy agreements with Venezuela, particularly focusing on the Dragon gas project. Speaking at a post-Cabinet news conference, Young emphasized his commitment to addressing these matters, stating, “Fighting is the language I used for Trinidad and Tobago. That has continued.” He noted that more information will be provided soon as developments occur regarding these agreements.
Young also referred to the fluid situation concerning U.S. foreign policy toward Venezuela. He mentioned that U.S. Secretary of State Marco Rubio has indicated a shift in strategy that could potentially jeopardize existing licenses linked to Venezuela, including the Dragon deal. The backdrop of these changes includes heightened sanctions on Venezuela and the cancellation of a previous license granted under the Biden administration.
The Dragon project, vital for Trinidad and Tobago’s energy framework, was originally signed in August 2018 but faced delays due to U.S. sanctions implemented in 2019. Concerns surged following the 2020 elections with the potential for the deal to be further impacted by the subsequent administration. Historically, Trinidad and Tobago’s relationship with the U.S. has been characterized by collaboration across various sectors, including energy.
Prime Minister Young has stated that discussions with the U.S. are underway to extend the Dragon project license and that the Trinidadian government prioritizes this project for both local and regional energy security. Continuing the efforts, Young underscored the importance of upcoming dialogue with banking officials concerning foreign exchange availability in Trinidad and Tobago, indicating that there will be transparency in the outcomes of that meeting scheduled for March 25.
In summary, Prime Minister Stuart Young is actively pursuing the realization of energy deals with Venezuela, particularly the Dragon project, amidst shifting U.S. policies that pose challenges. His commitment to resolving these issues is evident, as is the necessity to address foreign exchange concerns domestically. The developments in both energy and economic policy will be closely monitored as they unfold in the near future.
Original Source: newsday.co.tt
