Energy Minister Dr. Roodal Moonilal has revealed that Trinidad and Tobago currently derives no energy revenue from Venezuela, despite longstanding bilateral relations. The disclosure came during parliamentary debate on an opposition motion condemning Prime Minister Kamla Persad-Bissessar’s statements regarding US-Venezuela tensions in the Caribbean.
Opposition Leader Pennelope Beckles filed the motion expressing concern that the government’s approach could adversely affect TT’s economy, trade relations, and national security. Minister Moonilal countered that while robust cultural and trading connections exist with Venezuela, commercial energy collaboration remains absent.
The discussion highlighted the fragile status of the Dragon gas project, a US$1 billion initiative originally signed in 2018 but stalled by US sanctions against Venezuela. Although the previous administration secured a 30-year license from Venezuela in 2023 with US Office of Foreign Assets Control (OFAC) approval under the Biden administration, the project faced renewed uncertainty following Donald Trump’s November 2024 electoral victory.
Prime Minister Persad-Bissessar had previously declared the Dragon agreement defunct in May, announcing intentions to seek gas supplies from Grenada, Guyana, and Suriname instead. However, following her September meeting with US Secretary of State Marco Rubio, cross-border energy initiatives appeared revitalized.
The geopolitical context has intensified with significant US military deployment in the southern Caribbean, including the presence of US Marines in Tobago for joint exercises with Trinidad’s Defense Force. Persad-Bissessar has endorsed this deployment as anti-narcotics operations, despite international concerns about extrajudicial strikes on alleged drug vessels.
Minister Moonilal assured that operations concerning the Dragon gas field continue uninterrupted, dismissing opposition claims that governmental actions have jeopardized energy initiatives. He indicated additional confidential energy projects are underway but declined specifics due to ongoing sensitive negotiations.