The Government of Trinidad and Tobago has announced that it has been issued two general licences by the United States, providing a clear and structured legal framework for certain oil and gas activities involving Venezuela, as well as operations in shared maritime areas between the two countries.
Prime Minister Kamla Persad-Bissessar, in a statement posted on X on Friday, 20 February, said the licences represent an opportunity to deepen hemispheric energy cooperation and strengthen regional stability.
She added that, as a longstanding and close partner of the United States, Trinidad and Tobago views this development as an important opportunity to enhance hemispheric energy cooperation, strengthen regional stability, and reinforce trusted commercial ties.
The Prime Minister further noted that the government is optimistic about the potential to enhance the country’s role as a responsible energy hub in the Caribbean, while supporting domestic industry, safeguarding employment, and contributing to reliable energy supply chains that benefit the wider region.
She also emphasized that the twin-island republic will proceed in full compliance with all applicable legal and regulatory requirements, in keeping with its commitment to transparency and sound governance.
Guided by the terms of the licences, any payments of oil or gas taxes or royalties to Venezuela, including payments to the state-owned energy company Petróleos de Venezuela (PdVSA) or related entities, must be directed to foreign government deposit funds or to other accounts as instructed by the U.S. Department of the Treasury.
The licences also stipulate that they do not authorize payment arrangements deemed commercially unreasonable, nor those involving debt swaps, gold payments, or digital currencies issued by or on behalf of the Venezuelan government.
This development comes amid ongoing negotiations surrounding cross-border natural gas projects between Trinidad and Tobago and Venezuela, including the Dragon and Manakin-Cocuina fields.
In April 2025, Washington revoked Office of Foreign Assets Control (OFAC) licences that had previously permitted Trinidad and Tobago to pursue the Dragon and Manakin-Cocuina natural gas projects with Venezuela, citing concerns over democratic governance and migration issues in the South American nation.
