New T&T Gov’t abandons Venezuela energy deal, eyes Guyana and CARICOM partners

In what is seen as a shift in energy policy, Trinidad and Tobago’s newly elected Prime Minister, Kamla Persad-Bissessar SC, has officially declared the Dragon Gas deal with Venezuela “dead,” as her government turns its focus to forging fresh energy partnerships within the CARICOM region.

Speaking to reporters shortly after swearing in her Cabinet over the weekend, Prime Minister Persad-Bissessar firmly closed the chapter on the decade-old agreement pursued by the former administration.

“It is dead, it is dead. They kept it alive for 10 years,” she said emphatically, referring to the stalled deal which aimed to tap natural gas from Venezuela’s Dragon field via undersea pipelines.

Instead, the Prime Minister announced her government’s intention to pursue energy collaborations with regional neighbours including Guyana, Grenada, and Suriname.

Minister of Energy and Energy Industries, Dr Roodal Moonilal, echoed her sentiments, stating that the new administration’s strategy is to reposition Trinidad and Tobago — the Caribbean’s oldest oil-producing nation — as a central figure in the evolving global energy market.

“Our goal is to maintain Trinidad and Tobago’s relevance and leadership in the global energy landscape,” Dr Moonilal said. “This includes forging new partnerships and taking advantage of opportunities within our region.”

He noted that discussions are already under way with Guyana, which has rapidly emerged as a major oil producer in recent years. “Officials in Guyana have expressed interest in working with us on potential gas-related projects,” he confirmed.

The move signals a broader realignment of Trinidad and Tobago’s energy diplomacy, one that appears to favour regional cooperation over politically sensitive ties with Venezuela — particularly as international sanctions continue to complicate dealings with the Maduro-led administration.

As Trinidad and Tobago seeks to diversify and secure its energy future, the new government’s regional pivot may well mark the beginning of a new era in Caribbean energy collaboration.