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Trinidad and Venezuela sign deal on offshore natural gas

Trinidad and Venezuela sign deal on offshore natural gas
Trinidad and Tobago has signed a deal with Venezuela whereby the Caribbean islands will process and sell natural gas from the South American nation.

This agreement will allow a pipeline from the Dragon gas field in Venezuela’s Marisal Sucre region and will supply the dual islands with up to 500 MMcfd (million cubic feet per day) of natural gas.

The Marisal Sucre Dragon field is about 25 miles north of Venezuela’s Paria Peninsula.

Trinidad is located just seven miles off the northeast coast of Venezuela. Its state-owned National Gas Co (NGC) will have to fund the cost of the pipeline from Venezuelan waters to the Hibiscus platform northwest of Trinidad. Royal Dutch Shell owns the Hibiscus.

Officials say they expect the gas to be flowing by 2020 at the latest.

source: splash247

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