Venezuela's Dragon Field: Natural Gas Production Nears After Decades of Delays

• Natural gas production from Venezuela's Dragon field could begin within two years, marking a significant development after multiple failed attempts and lengthy negotiations.

• A 30-year license agreement grants Shell and Trinidad's National Gas Company rights to produce and export gas to Trinidad.

• While the final investment decision is pending, US approval and license award in December 2023 pave the way for progress.

• Combined with Trinidad's Manatee project, Dragon is expected to deliver up to one trillion cubic feet (tcf) of gas in the first phase.