Post #1308

A joint offshore gas project between Venezuela and Trinidad and Tobago has stalled as a result of the Nicolás Maduro government's rejection of stringent terms that flow from US sanctions on the country. “The Venezuelans have not accepted the terms laid down by the Americans. That is the long and short of it,” said Trinidad and Tobago Prime Minister Keith Rowley during an interview Thursday in local media. Caracas is currently engaged in negotiations with Port of Spain to export natural gas from the offshore Dragon field, which has 4.2 trillion cubic feet (tcf) worth of deposits. The operations would be run by Dutch multinational corporation Shell. Any deal is subject to US approval via the Treasury Department’s Office of Foreign Assets Control (OFAC) as a result of US sanctions on Venezuela that effectively constitute a blockade of the country's hydrocarbon industry. http://venezuelanalysis.com/news/15821