Hours after Prime Minister Stuart Young announced that the US government has revoked the licences previously granted for both the Dragon and Manakin-Cocuina cross-border gas deals, he attempted to reinstil confidence in the business community regarding TT's future.
"The message is, despite what you're hearing, all of our eggs of TT are not in the Dragon basket," he said, speaking at the TTMA's leadership discussion and networking event on April 9 at Hyatt Regency.
"...We will continue to traverse the waters and we will continue to fight for TT."
He encouraged manufacturers and business owners at the event to "filter through the noise" in their endeavours going forward.
Young also lamented that some people were celebrating the announcement of the licences cancellations amongst "unfortunate media headlines."
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"It still shocks me still that there are actually people who call themselves citizens of TT and they believe in TT is what they say, but they are rejoicing in another setback in what we've done with Dragon."
He pointed out the past hurdles that the government faced in the deals.
He said in 2018 the government negotiated a commercial term sheet but the rise of sanctions in 2019 stopped any progress.
"People were rejoicing. Those aren't the people who want the best. But we didn't give up.
"By 2022 we engaged with decision makers in Washington.
"By 2023, shocking many, including many of the major oil and gas players around the world who we were trying to achieve the same thing we did, we got the full set of clearances from the US government with OFACs."
He said the granting of licences to TT for the production and export of gas out of Venezuela was the first of its kind in history.
"Those are not things that happen as a result of platform conversations or loose talk.
"The rest is history."
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