Trinidad and Tobago Nears Gas Deal with Venezuela Amid US Sanctions
What happened
Trinidad and Tobago is nearing a technical agreement with Venezuela to measure natural gas from fields that straddle the sea border. The deal, which is being advanced by the Ministry of Energy and Energy Industries, is intended to boost Trinidad and Tobago's natural gas production. However, all Venezuelan energy transactions are still subject to US sanctions rules enforced by OFAC, although Washington has loosened them in 2026.
From riotimesonline.com
Why it matters
The potential agreement could significantly boost Trinidad and Tobago's natural gas production capacity. The deal represents a deepening of energy ties between the two nations, even as US sanctions continue to control the parameters of Venezuelan energy deals.
Cross-border collaboration prospects are growing between Venezuela and Trinidad and Tobago.
From riotimesonline.com
Who's involved
- Trinidad and TobagoTrinidad and Tobago is pursuing the deal to boost its liquefied natural gas production.
- VenezuelaVenezuela is the partner nation involved in the proposed gas measurement agreement.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Trinidad and TobagoSpeculative
Trinidad and Tobago might see its natural gas production capacity increase due to the new measurement agreement.
- VenezuelaSpeculative
Venezuela might see its energy deals advance through the technical pact, despite the constraints of US sanctions.
- PDVSASpeculative
PDVSA might be involved in the technical pact governing the measurement and management of the shared gas fields.
Keep exploring
Part of
Cross-border collaboration prospects are growing between Venezuela and Trinidad and Tobago.Also in this story
- A roadmap has been agreed upon between Venezuela and Trinidad and Tobago to deepen their bilateral cooperation.
- Trinidad and Tobago ships relief supplies to Venezuela.
- Twin earthquakes caused coastal uplift in Trinidad.
- Aid convoys are underway targeting Tucupita for affected regions of Venezuela, organized by migrants from Trinidad and Tobago.
The entities involved
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Venezuela
Country in Latin America
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Trinidad and Tobago
island sovereign state in the Caribbean
Related events
- Expanding crude output via private deals in Venezuela.
- Geopolitical tensions, including US/Iran fighting and Venezuelan expansion, are affecting crude supply and driving up Brent price forecasts from Goldman Sachs.
- Venezuela is supplying crude oil to the United States, which is set to be received by Citgo.
- Predator Oil & Gas Holdings Plc is expanding its oil and gas operations across Trinidad, Africa, the Caribbean, and Europe.
- JD Vance responds to the Treasury Secretary's price forecast as oil deals are shown to support a broader energy-security strategy.