Trinidad and Tobago signs an agreement with Shell to exploit a natural gas field

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San Juan, Nov 17 (EFE) .- The Caribbean territory of Trinidad and Tobago signed an agreement with the Shell company that will allow the exploitation of natural gas deposits in the Loran field, which extends to the maritime border with Venezuela.

The country’s Prime Minister, Keith Rowley, publicly presented on Wednesday the agreement signed between the Government of Trinidad and Togago and the companies Shell Trinidad and Tobago Limited and Shell Trinidad and Tobago Resources.

Rowley said the contract will affect the shallow water field that runs along the maritime boundary between Trinidad and Tobago and Venezuela.

The Manatí field has estimated reserves of approximately 800 billion cubic meters of gas.

Rowley stressed that the project will be one of the largest natural gas developments that has been carried out in the history of the Caribbean country.

“The project will create opportunities for the energy services industry and other providers,” the prime minister said, noting that the Manatí field is part of the Loran-Manatí cross-border field, located between Trinidad and Tobago and Venezuela.

AGREEMENT BETWEEN THE TWO COUNTRIES

The president recalled that in August 2010 Trinidad and Tobago and Venezuela signed the so-called Unification Agreement for the Exploitation and Development of the Loran-Manatí Field.

However, the absence of a definitive commitment to make the necessary investment by the parties made that resource remain inactive.

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