Minister of Energy Stuart Young has signed a non-disclosure agreement (NDA) with PDVSA on Tuesday.
In a media release Minister Young said the agreement governs the negotiations between the parties and the exchange of information as the country progresses the technical and commercial aspects of the planned development.
The NDA signing occurred in the Minister’s latest visit to Venezuela concerning the billion-dollar Dragon Gas project.
Minister Young was accompanied by the permanent secretary of the Ministry of Energy and Energy Industries Pennelope Bradshaw Niles, president of NGC Mark Loquan, Trinidad and Tobago’s Ambassador to Venezuela Major General (Ret’d) Edmund Dillon, and other members from NGC’s executive.
Also present were senior vice president of Shell TT Eugene Okpere and other members of Shell.
The Dragon deal, if successful, will give Trinidad and Tobago access to the field said to be holding about 4.2 trillion standard cubic feet of natural gas.