The American Chamber of Commerce of Trinidad and Tobago (AMCHAM T&T) has welcomed the Government’s securing the Office of Foreign Assets Control (OFAC) license to advance development of Venezuela’s Dragon gas field, calling it a significant step for the country’s energy sector and broader economy.

In a statement on Thursday, the business group congratulated the Government of Trinidad and Tobago and stated that authorisation from the US Treasury Department was “another positive affirmation” of the nation’s close ties with the United States.

AMCHAM T&T stated the OFAC licence “paves the way for legally compliant cross-border collaboration” on the Dragon project with Venezuela, which it argued will strengthen Trinidad and Tobago’s medium‑term economic outlook and reinforce its role in regional energy security.

The group also praised the Government’s response to the development, saying it showed awareness of the “complex geopolitical, regulatory, and commercial dynamics” surrounding the project and that authorities were acting decisively to navigate them.

“This license is more than a regulatory milestone; it is a vote of confidence in Trinidad & Tobago and our energy future,” the organisation said.

AMCHAM T&T reaffirmed its commitment to work with the Government, energy stakeholders, its membership and foreign partners to support sustainable economic development.