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Trinidad Signs LNG Export Deal With Venezuela

Trinidad Signs LNG Export Deal With Venezuela Trinidad Signs LNG Export Deal With Venezuela

Trinidad and Tobago will continue to ship super-chilled natural gas all over the world, with a little help from Venezuela. Venezuelan President Nicolas Maduro and Trinidad and Tobago Prime Minister Keith Rowley signed a deal on Saturday where Trinidad will purchase gas from Venezuela’s prolific Dragon Field, state-run energy company, Petroleos de Venezuela SA, said in a tweet, World Oil reported. Under the terms of the agreement, 150 million cubic meters of gas will be supplied per day. The deal has long been in the making and will throw a lifeline to Trinidad, which has seen its gas output decline in recent years. It is also good news for Royal Dutch Shell Plc and BP Plc, each of which have a stake in the state-owned Atlantic LNG. Shell has had a presence in Trinidad and Tobago since 1913, which expanded after it bought BG Group in 2016. The Anglo-Dutch oil giant is the largest trader of liquefied natural gas worldwide, and along with BP, owns stakes in each of the trains of the Atlantic LNG facility.

 

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