From Sanctions to Exports: Shell and Trinidad Partner with Venezuela for 30-Year Gas Project

• Venezuela granted Shell and Trinidad’s NGC a 30-year license to produce gas off its coast, marking a potential turning point for its energy sector.

• This deal, following U.S. sanctions relief, could finally unlock Venezuela's immense gas reserves, estimated to be the largest in Latin America.

• Initial production will focus on sending gas to Trinidad for processing and export, providing both countries with economic benefits.

• The project had been stalled for years due to lack of investment and U.S. sanctions, but newfound partnerships and eased restrictions aim to revive it.

• This deal represents a significant shift for Venezuela, aiming to diversify its income beyond oil and potentially boost its economy.