Trinidad and Tobago secures US permission to negotiate gas deal with neighboring Venezuela

Core Viewpoint - The U.S. has granted Trinidad and Tobago a license to negotiate a gas deal with Venezuela, allowing them to proceed without facing U.S. sanctions, which is crucial for Trinidad and Tobago's energy strategy and economic stability [1][2]. Group 1: License and Negotiation - The U.S. Treasury Department issued a license that permits Trinidad and Tobago to engage in gas transactions in Venezuelan waters, which are otherwise prohibited due to U.S. sanctions [1][2]. - Trinidad and Tobago has six months to negotiate the deal, with specific targets set by the U.S. that must be met during this period [2][4]. - The new license allows for initial negotiations but does not cover the entire gas project, indicating a phased approach to development [4][7]. Group 2: Economic Implications - The gas project is viewed as essential for Trinidad and Tobago to increase its gas production and generate new revenue streams, especially as government spending has outpaced income in recent years [3]. - The U.S. has expressed support for the gas deal while ensuring it does not significantly benefit the Maduro regime in Venezuela, highlighting the geopolitical considerations involved [5][6]. Group 3: Historical Context - A previous license for the same gas project was granted in October 2023 but was revoked in April, which had negatively impacted Trinidad and Tobago's energy security [6]. - The terms of the new license differ from the previous one, although specific details have not been disclosed [7].