Prime Minister Stuart Young has announced that the United States government has revoked the licences it earlier granted to the Trinidad and Tobago government for both the Dragon and Manakin-Cocuina cross-border gas fields.
These licences were granted to TT by the US Department of the Treasury's Office of Foreign Assets Control (OFAC).
The Manakin-Cocuina cross-border gas fields gas deal was granted on December 18, 2023 while the licence for the Dragon Gas deal was granted on October 17, 2023 and was set to expire on October 31 this year.
Young made the announcement at a press briefing at the Whitehall, Port of Spain on April 8 at 4.45 pm.
He said he was in touch with attorneys in Washington DC and could not say more on the topic.
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The Manakin-Cocuina field is the second largest of the fields that straddle the TT/Venezuela border, with a capacity of at least one trillion cubic feet (tcf) of proven gas reserves.
This is a developing story and will be updated as information comes to hand.
