An offshore production platform at sea, an archive image shown for illustration only. (Photo: Rio Times library)

TRINIDAD AND TOBAGO · ENERGY

Trinidad and Tobago is about to sign a Venezuela gas deal, Energy Minister Roodal Moonilal told Parliament on Friday 30 October 2026. It is a measurement agreement, a technical pact on how gas from fields that straddle the sea border is counted.

It matters to US readers because every Venezuelan energy deal runs through US sanctions rules. Washington has loosened them in 2026 but still controls them.

In Plain English

Trinidad and Tobago is a two-island Caribbean nation that exports liquefied natural gas (LNG, gas chilled into a liquid for ships) and chemicals. The minister says a deal with Venezuela can pave the way to boost its natural gas production.

The Ministry of Energy and Energy Industries is the government department that runs this policy, and Moonilal is its minister. OFAC is the Office of Foreign Assets Control, the US Treasury unit that enforces sanctions and decides which deals with Venezuela are allowed.

What the Minister Told Parliament

Moonilal said the ministry is advancing the Extra-Territorial Measurement Agreement and expects to engage Venezuela very soon. He said talks with Venezuelan officials are at an advanced stage and that the Foreign Affairs minister is helping to prepare the signing.

He added that a complete and correct English translation is required for the measurement of the gas. He called the Venezuela gas deal a clear sign that the government wants to deepen energy ties with Venezuela despite geopolitical and market uncertainty.

A Trinidad and Tobago Coast Guard boat on the Gulf of Paria, an archive image shown for illustration only. (Photo: Rio Times library)

Why the Translation Matters for the Venezuela Gas Deal

The translation point follows a ministry statement of 20 October 2026 about Dragon, a large offshore gas field in Venezuelan waters. The ministry said it could not find the original signed measurement agreement from December 2023, nor any finalised English version.

It found only a Spanish copy attached to a Cabinet note of January 2024. That gap helps explain why the new text is being prepared in both languages before anyone signs.

Where US Sanctions Stand

The US Treasury lists Venezuela general licences, and number 49B (amended 28 September 2026) lets firms sign contingent oil and gas investment contracts. Carrying out those contracts needs separate US approval.

General License 50C, amended on 27 August 2026, covers oil and gas work in Venezuela by six named companies, including BP and Shell. Royalties and taxes owed to Venezuela must go into US-controlled deposit accounts, and deals involving Russia, Iran, China, North Korea or Cuba are excluded.

What It Means for You

Trinidad is a major LNG supplier, and more Venezuelan gas could lift its output for buyers in the United States and Europe. The Venezuela gas deal itself only sets counting rules, so no new gas flows from it.

For US companies and policymakers the deal is a test of how far Washington’s Venezuela licences stretch to a close partner. Our guide to Trinidad’s foreign partners explains who has stakes in the country, and our explainer on Trinidad’s geopolitics covers the Venezuela border.

What Is Not Known

No signing date or venue has been published, and the text has not been released. The official record of the 30 October sitting, called Hansard, had not been posted when this was written.

It is not known whether the US Treasury has granted the separate licence needed to produce gas at Dragon. No volume, price or start date for the Venezuela gas deal has been stated by either government.

More: Latin America news in English, every day from The Rio Times.

Frequently Asked Questions

What did Trinidad’s energy minister say about Venezuela?

Energy Minister Roodal Moonilal told Parliament on Friday 30 October 2026 that Trinidad expects to sign a Venezuela gas deal on measurement very soon. He said talks are at an advanced stage.

Is this a gas supply contract?

No. It is a measurement agreement on how gas from shared fields is counted. No supply price or volume has been announced.

Do US sanctions block the deal?

US general licences allow negotiating contingent contracts for Venezuelan oil and gas. Actual production still needs separate US approval, and none has been announced.

What is the Dragon gas field?

Dragon is a large offshore gas field in Venezuelan waters, central to the Venezuela gas deal. The ministry holds only a Spanish copy of its measurement agreement from December 2023.

Why does it matter to Americans?

Trinidad is a key LNG exporter, and Venezuelan energy deals depend on US sanctions policy. Any change can affect gas supply and US influence in the Caribbean.

Sources: Parliament of Trinidad and Tobago, House of Representatives sitting notice, 16th sitting, 30 October 2026; Ministry of Energy and Energy Industries, media release on the Dragon Gas Fiscal Measurement Agreement, 20 October 2026; US Treasury Office of Foreign Assets Control, Venezuela-related sanctions and General Licenses 49B and 50C, 28 September 2026.

Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error