Venezuela, Trinidad & Tobago to unitize joint gas fields

The governments of Venezuela and Trinidad and Tobago have agreed to work aggressively towards the unitization of certain natural gas fields that straddle both countries' borders.Included in that accord is a major cross-border gas field, Loran, with reportedly most of its reserves on the Venezuelan side. Venezuela continues to cling to the prospect of using reserves from Loran for its own resuscitated but long-stymied LNG export scheme rather than quickly monetizing all of the field's reserves in Trinidad and Tobago's booming LNG export project.At the same time, Venezuela disclosed that it has marked progress on awarding gas-prone acreage to foreign multinational major companie...

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