MEDIA RELEASE
13/02/2026
The American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T) welcomes the OFAC General licence for development of petroleum resources in Venezuela.
While not specifically mentioning T&T, this license paves the way for the development of several projects in the relatively near term, including the Loran, Cocuina, and Dragon fields by Shell and BP, with NGC participation.
We also congratulate the Government of the Republic of Trinidad and Tobago on its work to ensure that this issue was high on the agenda of the US Government and their efforts to ensure this outcome.
This development represents a critical step toward securing medium-term gas supply at a crucial time for both the T&T and Venezuelan economies. While there are still many steps to be taken before gas supplies materialise, today’s announcement significantly tilts the medium-term economic outlook to the upside and should boost confidence in both countries.
We acknowledge the
prioritization of these matters by the Honourable Prime Minister Kamla
Persad-Bissessar SC, Dr. the Honourable Roodal Moonilal, Minister of Energy and
Energy Industries, the Government of Trinidad and Tobago, and our international
diplomatic teams, at the U.S. Embassy in T&T and congratulate them for
their coordination, leadership, and persistence in advancing this important
initiative.
END.
For further questions or comments please contact: Nirad Tewarie, CEO AMCHAM T&T at niradtewarie@amchamtt.com.