Fossil Energy – Venezuela
Shell has signed new oil and gas agreements with Venezuela, reviving development plans for the offshore Dragon Gas Project.
The field contains an estimated 4.5 trillion cubic feet of gas and could supply feedstock to Atlantic LNG in Trinidad and Tobago, which has been operating below its 12 mtpa export capacity due to gas shortages. First gas exports are expected in Q3 2027.
Key highlights:
• Dragon field reserves estimated at 4.5 Tcf of natural gas;
• Potential to support LNG exports from Trinidad’s Atlantic LNG plant;
• Technical partners include VEPICA, KBR, and Baker Hughes;
• Project revival follows easing restrictions on Venezuela’s energy sector.
