Shell and Trinidad and Tobago's National Gas Company (NGC) are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
and Trinidad and Tobago's National Gas Company are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
Negotiations between the trio initially had progressed little over a U.S. demand that the proposed Dragon gas project exclude cash payments to Venezuela or its state companies. That remains a hurdle, though Trinidad has asked the Biden administration to reconsider. Shell and NGC have not given final word to PDVSA on the reimbursement, but are prepared to pay for "all legitimate claims," one of the sources said.
Trinidad's Energy Minister Stuart Young met Venezuela's President Nicolas Maduro last week, the Venezuelan government said on social media.
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