PM, Moonilal hail six month licence

Energy Minister Dr Roodal Moonilal. - File photo

PRIME Minister Kamla Persad-Bissessar and Energy Minister Dr Roodal Moonilal have welcomed the granting of a six month Office of Foreign Assets Control (OFAC) license to begin negotiations with Venezuela to resume the Dragon gas project.

In a statement issued by the OPM, Persad-Bissessar said, "The granting of the OFAC licence is the result of immense hard work and represents a fresh starting point in the ongoing negotiations."

She added, "It follows my recent meeting with US Secretary of State Marco Rubio in Washington, where we engaged in productive discussions on deepening cooperation and advancing mutual interests."

Persad-Bissessar thanked Rubio for his efforts in ensuring that the licence was approved and for helping to reopen this critical pathway for progress.

She said, "This is yet another major victory for Trinidad and Tobago, one that reflects our government’s dedication, diplomacy, and determination."

Persad-Bissessar assured the population, government will continue to work tirelessly to secure further success.

She repeated the people of TT, US and Venezuela "all stand to benefit from the Dragon Gas agreement, which represents a win for regional partnership, energy security, and economic growth."

In a separate statement, Moonilal agreed with Persad-Bissessar. He said no OFAC licence for Dragon was in place when the UNC assumed office because the former licence was revoked before the election while the PNM was in office.

Referring to comments made by former prime minister Dr Keith Rowley at a news conference earlier in the day, Moonilal said records at the ministry and the National Gas Company (NGC) showed taxpayers paid over $120 million for the Dragon gas project under the PNM. He added Rowley's statement that this figure was $100 million is wrong.

After a meeting between Persad-Bissessar and Rubio at the US State Department in Washington, DC on September 30, the OPM and the US State Department issued separate statements to announce agreement had been reached with respect to continuing TT-Venezuela cross border energy initiatives which began under the former PNM administration.The State Department specifically identified the Dragon gas project in its statement.

At a news conference at Piarco International Airport on October 1, Persad-Bissessar said, “From day one when we came into office, we began work on that OFAC licence (for Dragon).”

She added, “We had discussions further with Secretary Rubio on other fields – Loran/Manatee and Cocuina-Manakin.”

At a swearing-in ceremony for government ministers at President's House, St Ann's on May 6, Persad-Bissessar said the Dragon gas deal was dead and, “we will be foolish not to look elsewhere.”

She added: “That is dead. The PNM kept it alive for ten years and if you couldn’t do it in ten years, you cannot possibly do it now.”

At that time, Persad-Bissessar said she had discussions with Rubio about the energy sector but there were no discussions about the Dragon gas project.

On October 1, She did not comment on Wednesday evening on Rubio’s position, as outlined in the State Department’s release, about steps being taken to ensure the Dragon gas project does not benefit Venezuelan President Nicolas Maduro and his government.

At a news conference at his ministry on October 9 to announce the granting of the six month OFAC licence, Jeremie said, "The effect of the grant of this licence is to permit the government and NGC to engage in negotiations with the government of Venezuela and other stakeholders to advance the Dragon gas deal without breaching sanctions imposed by the US government."

Jeremie said there were ways to ensure that all parties benefit.

“There are ways. It is a win-win for all of the parties. The US benefits from these terms and conditions. There are terms and conditions in the licence which ensure that the US companies benefit. There are tiers in exactly how they should benefit. TT obviously stands to benefit and to a certain extent the people of Venezuela will benefit.”

Jeremie said government is taking steps to advance