Trinidad and Tobago’s Prime Minister Dr. Keith Rowley warned of potential economic calamities if the Dragon gas deal with Venezuela fails. He stressed the importance of energy agreements, the negative implications of sanctions, and how essential services depend on stable revenue from such projects. Without strategic energy initiatives, the country could face significant financial challenges in the near future.
Prime Minister Dr. Keith Rowley of Trinidad and Tobago has expressed serious concerns regarding the Dragon gas deal with Venezuela, indicating that potential complications could jeopardize the nation’s financial stability. During a ceremony on Monday, he emphasized that while he believes Trinidad and Tobago has solid agreements in place, difficulty could arise if the United States revokes the license for the deal or if Venezuela restricts access to gas supplies.
Rowley pointed out that essential services such as hospitals and schools require steady revenue, urging citizens to refrain from celebrating opposition claims of failure regarding the Dragon gas project. He encouraged optimism and collective support for the deal, noting its critical importance given the depletion of domestic gas supplies.
He underscored the necessity of securing energy partnerships, asserting that citizens often overlook the implications of short-selling such projects. The Prime Minister highlighted the crucial achievement of obtaining Venezuelan approval for gas extraction licenses amidst shifting global geopolitical landscapes and U.S. sanctions, framing it as essential to the economic well-being of Trinidad and Tobago.
Rowley further elaborated on the vulnerabilities associated with potential losses of the license or restrictions by Venezuela, emphasizing that such scenarios would result in dire consequences for the economy. The cooperative extraction of gas from shared fields, such as the Manatee field, illustrates the existing interdependence.
He raised poignant questions regarding the nation’s future without these energy initiatives, notably concerning the Point Lisas Industrial Estate, a significant revenue generator. If domestic gas supplies diminish before alternative sources are established, the country may face considerable challenges meeting its financial obligations. Rowley acknowledged the reliance of citizens on government subsidies and warned against the potential consequences of insufficient revenue streams, suggesting that even resources from the International Monetary Fund would come with strict conditions, such as subsidy reductions.
In summary, Prime Minister Dr. Keith Rowley has expressed grave concerns regarding the future of Trinidad and Tobago’s economy contingent upon the success of the Dragon gas deal with Venezuela. He emphasized the importance of secure energy agreements, warned against celebrating potential failures, and highlighted the need for robust leadership to navigate challenges posed by geopolitical tensions. Without sustainable energy resources, the nation’s financial stability could be jeopardized, impacting essential services and government subsidies.
Original Source: www.stabroeknews.com
