The Government is refusing to give financial details on the agreement between this country and Venezuela over the Dragon Field gas deal.
Speaking to the media at a press conference yesterday, Energy Minister Franklin Khan claimed to be bound by a confidentiality clause in the agreement signed with Venezuela on Saturday.
He however added that the pricing structure in the agreement was competitive and followed “months of negotiation, serious intervention, serious sharing of information and serious sharing of economic models.
He emphasized that the deal was a “win-win situation” as Trinidad & Tobago also faces challenges in supplying gas to all its markets.
Adding that no government in this country has ever made known to the public any negotiated price of gas, the Energy minister described reports that this country will buy gas at a mere US$1 per MMBTU as mischief.
Under the agreement the volume of gas to be provided will be 150 million cubic standard feet per day with an option to go to 300 million standard cubic feet per day.
The Government maintains that the gas deal essentially secures “a long-term symbiotic relationship with Venezuela”.