Shell to complete survey at Venezuela gas field as license wind-down approaches

Since Washington first imposed energy sanctions on Venezuela in 2019, US licenses are needed for foreign companies to negotiate, plan and develop oil and gas projects with state-owned company PDVSA.

Shell, NGC and PDVSA did not immediately reply to requests for comment.

Trinidad is Latin America's largest exporter of liquefied natural gas and one of the world's largest exporters of ammonia and methanol, but the Caribbean nation needs to develop offshore fields in Venezuela and on the maritime border to counter its declining reserves and secure supply.