Trinidad and Tobago is likely to develop all of the 10 trillion cubic feet of natural gas in the Loran and Manatee gas fields, according to Energy Minister Franklyn Khan.
Speaking at the Hyatt Regency on Tuesday, on the second day of the Energy Chamber's 2020 Energy Conference, Khan said while the agreement is to independently develop the Manatee and Loran fields, it was logical to assume that once first gas comes to T&T, then the Venezuelans also are likely to allow the resources in Loran to be produced here, as well.
Prime Minister Dr Keith Rowley has announced that Trinidad and Tobago and Venezuela have rescinded their agreement to jointly exploit 10 trillion cubic feet of natural gas in the Loran Manatee field and would instead develop it independently.
Rowley said the continued US sanctions on the Bolivarian Republic had made it all but impossible to jointly develop the gas and as a result, the two countries will go independently.
The Energy Chamber of Trinidad and Tobago is hoping for a speedy conclusion to the investigations into allegations of fraud involving the sale of oil to Petrotrin.
The Chamber says it hopes appropriate action is then taken.
It issued the following statement today:
"The Energy Chamber is very concerned about the allegations being made about fraud in the transfer and sale of oil from A&V Drilling to Petrotrin.
The Energy Chamber says the decision by BpTT not to construct the Angelin platform in Trinidad and Tobago, signals an urgent need for increased productivity in Trinidad and Tobago.
The Chamber responded to BpTT's decision via a media statement Wednesday morning.
"All responsible stakeholders in the country must be disappointed by the decision not to construct the Angelin platform in La Brea.
However, this decision has been driven by the need to ensure that natural gas is available in Trinidad & Tobago by early 2019.