By Faith Edwards

THE revocation of United States licence for the Dragon gas project comes as no surprise, says the United National Congress (UNC) Opposition Dr David Lee, warning it was always a “bad risk” to bank on Maduro’s administration.

Speaking at the UNC press briefing, Wednesday, Lee said, “We are not happy this is happening, we could never be happy as citizens of Trinidad Tobago. But we have said time and time again if you put all your eggs at back on Maduro, it could never be a good risk.”

He said the volatility of the Maduro administration has always been a concern globally, and the Opposition had consistently cautioned the government against heavily relying on the Dragon gas deal as part of its energy strategy.

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Lee also took aim at the Energy Chamber of Trinidad and Tobago, stating that while they now express little surprise at the revocation, they were among the strongest supporters of the cross-border project with Venezuela.

“Their first priority should be Trinidad and Tobago, not Venezuela,” He said.

Lee said, “They should have used their influence to push this PNM administration over the past nine years to incentivize local energy companies to continue oil and gas exploration within our territorial waters.”

He criticised the government’s handling of energy development, noting that despite deep water and shallow water bid rounds being held, many failed due to a lack of proper incentivisation for companies to invest.

Lee raised several questions about the financial aspects of the Dragon gas agreement, calling for full transparency from the government. He asked:

• What was the cost of the deal with Venezuela?

• How much money was paid, and who made those payments?

• Was there a signing bonus, and if so, how much was it?

• What penalties, if any, will T&T face now that the licenses have been revoked?

He said that the confidentiality agreement that they have been hiding behind must be dropped and citizens of Trinidad and Tobago deserve transparency.

Dr Lee added that the Opposition wants to know how much money has already been spent by the state, whether through the National Gas Company (NGC) or international companies like Shell, and what the implications will be for the public.

“What really happened that the Trump administration has pulled back those licenses.”