The United States will not support any further regional reliance on Venezuela for energy, Secretary of State Marco Rubio will inform Caribbean leaders during talks in Jamaica today.
US Special Envoy for Latin America, Mauricio Claver-Caron, reinforced this stance ahead of Rubio’s visit earlier this week. He said the US does not see Venezuela playing a major role in the region’s energy security. He noted that Rubio’s trip, which includes stops in Guyana and Suriname, aims to strengthen those nations as key suppliers to the Caribbean.
Rubio will affirm the United States’ commitment to developing Trinidad and Tobago’s gas sector for Caribbean energy security. However, the future of the Dragon gas agreement with Venezuela remains uncertain despite US support through limited sanction waivers.
Claver-Caron said the US is “deeply committed” to working with T&T on its gas sector but did not comment on the Dragon project.
“We’re deeply committed to working with Trinidad to figuring out how to re-energise those natural gas opportunities and ensure that its economy continues to move forward despite the challenges presented with Venezuela and otherwise,” he said.
Trinidad and Tobago’s Energy Minister, Stuart Young, who has led the Dragon gas deal negotiations, will meet Rubio today (March 26). He said he intends to present the “most compelling argument” for T&T’s interests.
A partial U.S. waiver of sanctions allowed the TT government to get a 30-year licence from Venezuela to develop the Dragon gas field in December 2023. A final investment decision has not yet been made. The Dragon project targets production of 350 million cubic feet of gas per day (mcf/d). The deal stipulates that the Venezuelan State’s income from the project must always constitute at least 45% of the gross income generated by the licensees.
