The Energy Chamber of T&T is welcoming news that Venezuela has signed a production deal for the Cocuina Field with BP and NGC.

According to reports, the deal is a 20-year agreement where 25% of production goes to T&T’s petrochemical sector and the rest feeds the local LNG industry.

The Chamber believes this cross-border field has the potential to provide significant volumes of natural gas.

This, it notes, can help extend the life of the country’s gas industry and create business opportunities and jobs for citizens.