AMCHAM T&T has welcomed the progress made on the amended licensing agreement for the development of the Dragon gas field.

Speaking yesterday, Energy Minister Stuart Young said the agreement was amended by the US at the request of T&T’s Government.

The amended licence will run for a period of two years until October 31st 2025 and allows for payments in fiat currency, US dollars, Bolivars and via humanitarian means.

AMCHAM is optimistic that this latest development will lead to several opportunities for T&T’s energy sector.

It also believes it will continue to support such efforts in its own engagement with various arms of the US Government and private sector.

Meanwhile, Energy Minister Stuart Young is disputing a story from the T&T Guardian concerning the Dragon gas field development.

In a statement posted to Facebook, he says the newspaper incorrectly stated that T&T would be permitted to make payments for gas in “crypto currency”.

Mr Young says the article was “misleading” and “inaccurate” since he did not mention crypto currency when he spoke on the amended licence during a news conference yesterday.

(Photo credit: Stuart Young, Facebook)