From Yahoo Finance: 2025-04-21 12:22:00

Shell is conducting a marine survey at Venezuela’s Dragon gas field before the U.S.-set May deadline to wind down energy project licenses. The survey vessel Dona Jose II is gathering data for Shell and Trinidad’s National Gas Company. The work will determine drilling locations and pipeline design for potential gas supply to Trinidad.

The vessel was chartered by Shell after the U.S. canceled a license granted in 2023 for the Dragon field’s development. Since 2019, U.S. licenses are required for foreign companies to negotiate oil and gas projects with Venezuela’s state-owned PDVSA. Shell, NGC, and PDVSA did not comment on the situation.

Trinidad, a major LNG exporter, is seeking foreign gas supply to counter declining reserves. The Dragon gas project could provide this opportunity, benefiting both Trinidad and Venezuela. Shell was granted a 30-year license in 2023 to operate the Dragon field, with gas exports potentially starting next year and being converted into LNG in Trinidad.

The U.S. accuses Venezuelan President Maduro of failing to restore democracy and address migrant issues, imposing sanctions. Venezuelan officials view the sanctions as an “economic war.” The situation remains complex as Shell navigates the challenges of energy projects in Venezuela amidst geopolitical tensions.



Read more at Yahoo Finance: Shell to complete survey at Venezuela gas field as license wind-down approaches