Venezuela gives Russia control of new gas deposits near T&T

A report carried by a pan-Latin American news organisation, Panam Post, is stating that Venezuelan president Nicolas Maduro has given Russia two gas deposits near to Trinidad and Tobago.

The report says that Maduro offered up 100% of the project and all gas rights exploited.

The article says this is further evidence that Russian president Vladimir Putin is challenging the US government in the region, and reinforcing his plans to stay in the South American country.

According to the report, Putin approved the plans on Thursday, June 13, whereby the Russian government-controlled Rosneft company will enjoy the option to export all the gas extracted in both deposits.

These are the Patao and Mejillones deposits, located to the north of the Paria peninsula and which are part of the Mariscal Sucre Project, in northeastern Venezuela, close to Trinidad and Tobago.

Rosneft already participates as a minority partner in several joint oil production projects in Venezuela, such as Petrovictoria, Petromonagas and Petromiranda, in the Orinoco oil belt, as well as Boquerón and Petroperijá, in the state of Zulia.

In March of this year, Nicolás Maduro decided to move the Petroleos de Venezuela office from Lisbon to Moscow to strengthen the strategic partnership between the two countries.

Additionally, on Thursday, the Venezuelan foreign minister announced that Nicolás Maduro will be paying a visit to Moscow.

Russia has become one of Maduro’s greatest allies, providing it with weapons, technology, and other resources.

The Russian oil company Rosneft has channeled more than USD $17 billion in loans to the Chavez regime during the last decade.

The company also extracted three million tons of oil in 2017 from its operations in Venezuela.

In general, Russia has invested in many Venezuelan industries, from banking to bus assembly.

- Source: panampost.com

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