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FORMER energy minister Stuart Young welcomed news of the US nod for the restart of the Dragon deal for TT to access natural gas from Venezuelan fields, but warned the government of "a long road ahead" in expediting this.
At an Opposition media conference on Charles Street, Port of Spain, on October 1, Young reflected on regional geopolitics plus his own experience of how arduous the negotiating process can be.
Young called for disclosure of the details of the Office of Foreign Assets Control (OFAC) licence, including whether TT would pay Venezuela in fiat currency (such as US dollars) or in kind as was a previous condition. Venezuela's reaction to news of the new OFAC licence must also be ascertained, he said.
Citing UNC MPs' previous condemnation of the Dragon deal as "dead" and hostile remarks towards Venezuelan President Nicolas Maduro, he dubbed them as "snake-oil salesmen."
His remarks came the day after Prime Minister Kamla Persad-Bissessar met US Secretary of State Marco Rubio and obtained US support for the development of this country’s hydrocarbon resources.
A US government statement later detailed these resources to be the Dragon gas field – which lies fully in Venezuelan waters and so is not cross-border – but said the deal must not provide significant benefit to the Maduro government.
Tensions have been brewing between TT and Venezuela for the past few months with Maduro claiming "terrorists" had entered his country from TT.
In January 2019, Persad-Bissessar, then Opposition Leader, said she sided with the US in its support of Juan Guaidó as interim president of Venezuela, claiming Maduro was running a "dictatorial government."
Persad-Bissessar has also backed the US in its aggressive approach to combating narco-traffickers from Venezuela and blowing up at least two alleged "drug boats" from Venezuela and killing several people aboard. She said the US would also have unflinching access to TT if Venezuela ever attacked Guyana.
Maduro has claimed the US is seeking to topple his government and said Persad-Bissessar has "lost her mind." He called for bilateral relations between TT and Venezuela "based on respect."
Responding to the latest development, Young was pleased about the potential benefit to TT but said he was smiling at the irony from the PM who had previously deemed the Dragon deal to be dead.
He said Rubio's conversation with Persad-Bissessar was no different from that with himself last April when the secretary promised to work with TT towards TT's energy security.
Young recalled the allegedly disrespectful manner which then Oropouche East MP Dr Roodal Moonilal (now energy minister) had shown to Venezuela, plus Moonilal's call for the US to sanction himself and then prime minister Dr Keith Rowley.
"We in the PNM would always welcome any positive development for TT, that would benefit the people of TT, but we will not stand by quietly whilst this government continues in its attempts to mislead the population of TT as to the realities," Young said.
"They have a long road ahead of them. And a road where they say on this occasion, it is three hands that have to clap (US, TT and Venezuela). Not two."
He noted that Venezuelan vice president Delcy Rodriguez was also the energy minister. "It is the same Delcy, Delcy, Delcy, Delcy that every week I had to be hearing from them (UNC) as they hurled abuse on our side."
Young shone a light on the 30-year licence granted under his tenure as energy minister by Venezuela to TT for exploration of the Dragon gas field.
"There is a licence that may still be in place," he said, "because it is always open to a government to cancel a licence.
"And there are terms and conditions attached to that 30-year licence for Dragon that may not have been met in this intervening period.
"So to listen to the cheering and pom-pom behaviour of some – when we know what we face – is why we have come here today."
He said in 2018 the former government had negotiated with Venezuela to put aside the previous TT-Venezuela deal to exploit the cross-border Loran-Manatee field as one unit (to allow TT to solely exploit its Manatee field, to avoid US sanctions of Venezuela including the Loran field).
"So all of the behaviour could potentially jeopardise these types of projects.
"So we, like everyone else, look forward to see how the landscape unfolds.
"But we are very mindful of who owns the gas in Dragon and what exactly needs to take place."
He challenged the PM and energy minister.
"Show us the OFAC licence that you received. It is literally a licence you receive with the terms and conditions that set out the parameters upon which you can negotiate.
"That is the starting document to then go and have conversations with those who own the gas."
"So please TT, do not let them to fool you. Ask yourself of the irony of coming straight back to Dragon which is what we had been saying all along."

Young: No TT payment in $$ likely

In the question session, a reporter asked about the US statement that a TT-Venezuela energy deal must not benefit Maduro, and whether the OFAC licence obtained by Young had such terms.
Young replied, "That is the line we must focus on. That is why I took the time to touch on the first OFAC licence – that was exactly along those terms – in January of 2023.
"What one can interpret that to mean, one of the interpretations possible, is that there is no payment in fiat currency."
He said after TT was granted that OFAC licence, he had to travel to Venezuela a number of times to try to negotiate.
"I don't want to be premature on anything or speculate, because the truth is no-one knows. Moonilal doesn't know. The PM doesn't know.
"Because until they show us the OFAC licence that will set out the terms, one does not know.
"But that language is very carefully chosen language by Secretary Rubio, and we wait to see how it finds itself – if it finds itself at all – into an OFAC licence."
Asked if the government was forecasting regime change in Venezuela, he said he was not inside the mind of the UNC, but just knew the PNM abided by the principles of the UN Charter.
He described his many past talks in Venezuela as "extremely difficult negotiations".
"Not having the ability to pay the government and people of Venezuela for the gas, those were some of the most difficult conversations.
"The opportunity to have the conversation, to even be in the room with the decision-makers – the same Delcy Rodriguez, vice president of Venezuela, and the president of Venezuela – were the result of diplomatic respect and relations.
"One must tread very, very carefully. They are no different to any human being. If you insult a person, how do you then engage in productive conversation?"
Beckles added, "What for me is amazing is this government saying they have excellent relations with Venezuela. It is totally contrary to everything that has gone on the last couple of months.
"But what it really tells us is the significance of diplomatic relations, the significance of sovereignty and the significance of the region being a zone of peace."
Of the government, Young warned, "I think they are counting on the relationship with the energy companies. But ultimately energy companies will not determine Venezuela's government's policy and what they do with their gas." Otherwise, asked if the TT-Venezuela treaty to de-unitise the cross-border Loran-Manatee field still stands – where Venezuela allows TT to avoid US sanctions by exploiting just TT's Manatee field – he replied yes.
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