T&T could increase production of LNG if U.S eases Venezuela sanctions

Energy Minister Stuart Young told a conference in Suriname last week that the twin island republic will be able to increase its production of LNG (Liquefied Natural Gas) and fertilisers if the United States were to ease its sanctions on Venezuela.

Mr. Young did not mention either the US or Venezuela by name, but he was clearly referring to the Dragon field that is located in Venezuelan waters to the north of Trinidad.

The Trinidad and Tobago energy minister said the country has immediate capacity in the production of LNG and ammonia, urea, UAN (Urea Ammonium Nitrate), the last three of which are used in the production of fertilisers.

Global prices of oil, natural gas and fertilisers have soared in 2022 as a result of the Russian invasion of Ukraine and the supply chain issues that resulted.

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