Concerns About the Dragon Gas Deal: Trinidad and Tobago’s Future at Stake
Prime Minister Dr. Keith Rowley warns that if the Dragon gas deal with Venezuela fails, Trinidad and Tobago could face severe financial difficulties. He emphasizes the importance of this agreement for essential government functions, counters criticisms, and underscores the need for strong leadership in navigating geopolitical challenges.
Prime Minister Dr. Keith Rowley has issued a warning regarding the potential ramifications of the Dragon gas deal with Venezuela. He expressed confidence in Trinidad and Tobago’s agreements but highlighted that the nation could face serious financial difficulties if the United States were to revoke the license for the deal or if Venezuela were to restrict access to the gas supply.
During a ceremony marking the completion of the Central Block at the Port of Spain General Hospital, Rowley emphasized the importance of energy revenue for maintaining government functions, including hospitals and schools. He criticized negative narratives surrounding the Dragon gas project and called for support in overcoming these sentiments, asserting that the deal’s success is crucial due to dwindling domestic gas supplies.
Rowley articulated that celebrating failure in the Dragon deal would ultimately harm the populace, particularly those who rely on government support. He stressed that securing a license to extract gas from Venezuela’s proven fields is a significant achievement in the context of shifting geopolitics and sanctions that could threaten Trinidad and Tobago’s economy.
The Prime Minister underlined the necessity of robust leadership to navigate potential challenges, emphasizing that losing the OFAC license or failing to gain Venezuelan cooperation would lead to dire consequences for the nation. He noted existing shared fields with Venezuela, including the Manatee field, from which gas extraction is currently underway, and urged against celebrating any adverse developments relating to the agreements.
Rowley raised concerns about the future of Trinidad and Tobago if these energy initiatives had not occurred, affecting key revenue sources like Point Lisas. He warned that gas depletion would not happen instantaneously and would gradually impact revenue. The national budget allocation reveals approximately $6 billion directed towards citizens lacking alternative income sources, raising concerns about the sustainability of government subsidies for essential services without adequate revenue.
In conclusion, Prime Minister Dr. Keith Rowley has highlighted the potential risks associated with the Dragon gas deal with Venezuela, emphasizing its importance for Trinidad and Tobago’s financial stability. He urged support for energy initiatives while cautioning against negative outlooks that could jeopardize the nation’s future revenue streams. The government’s capacity to provide essential services largely depends on successful energy management and agreements with Venezuela.
Original Source: www.stabroeknews.com
