T&T GETS US LICENCE FOR COCUINA MANAKIN

CCNTV6

Trinidad and Tobago has the green light to do more energy business with Venezuela, and not worry about being hit by sanctions from the American government.  As the U.S. Treasury Department has granted T&T a two-year licence to develop the Cocuina (CO-KEE-NAH)-Manakin gas field.  It's similar to the licence granted for the Dragon gas field.

Transcript

00:00 Trinidad and Tobago has received a specific license from the United States

00:06 government, OFAC, for the pursuit of exploration production and export of gas

00:14 from the Coquina Mannequin Field to Trinidad and Tobago. Another license from

00:19 the United States government allowing TNT to do energy business with Venezuela

00:24 without facing sanctions. The latest license expires on May 31st, 2026

00:31 according to the Energy Minister. And we remain the same term similar to Dragon

00:37 that we can pay in fiat currency in US currency etc. It comes after Minister

00:42 Young said he traveled to Venezuela a few weeks ago with a delegation

00:46 including officials from BP for talks about the shared gas field. In April the

00:52 US government said it won't be renewing a general license to do energy

00:57 transactions with Venezuela. But US officials said they would consider

01:03 requests for specific licenses. There are many many companies across the world in

01:10 the energy sector who have applications into the United States at OFAC for

01:16 license to be able to do business in Venezuela and have not been granted

01:21 these licenses. According to Young, Coquina Mannequin has about 1 trillion

01:26 cubic feet of gas reserves and the potential to be higher. But there's no

01:31 timeline yet. To BP and to the ministry staff and NGC, let's bring home this

01:37 license from the Venezuelans as quickly as possible. Anselm Gibbs, TV6 News.

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