Caption: Stuart Young

By Alicia Chamely

FORMER Minister of Energy and Energy Affairs Stuart Young is challenging the government to present the Office of Foreign Assets Control (OFAC) license granted to them by the United States on Wednesday.

Young is also cautioning that recent hostility towards the Venezuela could jeopardise negotiations, noting nothing can be developed without the authorisation of Venezuela as the Dragon Gas field is theirs.

Speaking at a press conference on Wednesday at the Office of Opposition Leader, Port of Spain, Young noted the irony of the situation saying one of the first announcements by Prime Minister Kamla Persad-Bissessar upon her appointment was that the Dragon deal was dead.

Young noted the US Secretary of State Marco Rubio could not grant a OFAC license, which was under the Treasury Division of the US Government.

He said he doubted they had a OFAC license in hand, and even if they did it was just a point for negotiations with Venezuela.

Young said, “We challenge Dr Moonilal and the Prime Minister to show us the OFAC license you received. It is literally a license you receive with the terms and conditions that set out the parameters upon which you can negotiate, and that is the starting document to then go have negotiations.”

He said, “The Dragon gas field is completely within the Maritime borders of Venezuela. The Dragon gas field is completely owned by the people of Venezuela, and it is the PNM government that negotiated through very difficult and trying times, managed in December 2023, after many years, to obtain a 30-year exploration, production and export of gas license, from the Dragon field to Trinidad and Tobago.”

Young explained the People’s National Movement government first received an OFAC license in January 2023, with the condition that Venezuela could not be paid in type of currency and had to be paid in kind.

He said Venezuela would not agree to these terms and the government had to return to Washington to plead their case for an amended license that suited both parties.

Young said in October 2023, they received an amended OFAC license that allowed Venezuela to be paid in currency.

He said upon the return of the Trump Administration all OFAC licenses with Venezuela were cancelled. He then met in April Marco Rubio in Washington DC, who gave him the same assurances that Persad-Bissessar received, “that he (Rubio) will work with Trinidad and Tobago in achieving energy security.”

Young said now with the OFAC license, for any development to occur in the Dragon Field the government needed to negotiate with Venezuela.

“You have to go to Venezuela and negotiate with Venezuela the owners of the gas. It is absolutely no secret the position and the stance of this government and in particular from the voice of the PM towards our closest neighbour and the government of Venezuela,” he said, “And if Moonilal doesn’t know it, the VP of Venezuela is also the Minister of Energy in Venezuela and the person in charge of these resources. And her name is …Delcy Rodriguez.”

Young noted the 30 year lease agreement between T&T and Venezuela for the Dragon field, had specific terms and conditions and could not guarantee those were being met since the government had taken office.

He said, “I started by saying we in the PNM would welcome any positive development for Trinidad and Tobago that would benefit the people of Trinidad and Tobago, but we will not stand by quietly, whilst this government continues in its attempts to mislead the population of Trinidad and Tobago as to the realities. They have a long road ahead of them, and a road where they say on this occasion it is three hands that have to clap not two.”