Shell finishes survey at Venezuelan gas field due to US license expiration

Shell oil and gas group is planning to finish their marine research at the Dragon gas field in Venezuela before May. By that time, due to US demands, it has to close all of its energy projects in the country. 

According to LSEG data, this month, research ship Dona Jose II entered Venezuela, which now is under US restrictions, for collecting information for Shell and Trinidad’s National State Gas Company. Trinidad is the biggest Latin American exporter of liquefied natural gas (LNG), ammonia and methanol. 

Since Washington employed restrictions against Venezuela's energy sector in 2019, every international entity ought to have a US license for negotiations, planning, and development of oil and gas projects with state company PDVSA. 

In 2023, Venezuela granted Shell a 30-year license to operate the Dragon field, from which gas exports are expected to begin next year. It's suggested that the energy source from the project will be liquefied in Trinidad.