Episode Details

Shell on the Brink of Major Gas Discovery in Venezuela: A Game-Changer for Trinidads LNG Industry

Shell is on the verge of securing access to four massive offshore gas zones near Trinidad and Tobago, with the Dragon field alone holding 4.2 trillion cubic feet of gas. The company is also eyeing three additional fields in the Mariscal Sucre project and the Loran area, which spans into Trinidad. Chevrons departure from Loran opens the door for Shell to tap into this resource.

The plan is to pipe the Venezuelan gas to Trinidads Atlantic LNG plant, where Shell owns 45%. The plant is currently operating at a fraction of its capacity due to gas shortages, but this new influx could significantly boost production. Shells CEO has hinted at approving up to two Venezuelan projects this year, focusing on gas exports.

The proximity of Venezuelas fields to Trinidads setup (just six miles apart) and the potential to resolve Russian interests in some fields make this a promising opportunity. If successful, this could unlock a total of 20 trillion cubic feet of gas, revolutionizing energy flows in the region.

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