PdV licenses Shell, NGC for gas exports to Trinidad

Venezuela's state oil company PdV has granted Shell and Trinidad and Tobago's National Gas Company (NGC) a license to produce and export natural gas from the offshore Dragon field to the neighboring island nation.

This is Venezuela's first ever project to export natural gas, representing "... a historical moment" for the country, said vice president Delcy Rodriguez.

The 30-year deal aims to produce up to 185mm cf/d. No start date was given.

Officials from all three companies, as well as Trinidad's energy minister, attended a contract signing ceremony late Thursday. Details of the contract terms were not revealed.

The field is close to pipeline-connected facilities in Trinidadian water, with more than 4Tcf of proven reserves, according to PdV.

By Carlos Camacho