Shell Confirms Discussions With Trinidad, Venezuela on Joint Gas Project Development
Shell said it is having active discussions with Trinidad and Tobago and Venezuela regarding a joint gas project development.
According to a Reuters report on Tuesday, the energy giant is nearing an agreement with Trinidad and Tobago's National Gas Co. to credit a $1 billion investment by Venezuela's state-run oil company in an offshore gas-field project that the three parties want to jointly develop.
The development of the so-called Dragon project has long been stalled due to a U.S. demand that the project exclude payments to Venezuela or its state companies.
"Discussions on the Dragon project involving the governments of Venezuela and Trinidad and Tobago and Shell are ongoing and commercially confidential," a spokesperson told Dow Jones Newswires.
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