Market Chatter: Shell in Talks to Expand Gas Projects in Venezuela

MT Newswires Live04-01

Shell (SHEL) is in advanced discussions with Venezuela to develop four offshore areas near Trinidad and Tobago, including parts of the Dragon and Loran fields, Reuters reported Wednesday, citing two people familiar with the discussions.

The projects could add up to about 20 trillion cubic feet of gas, which Shell plans to send to Trinidad for LNG processing, boosting its Atlantic LNG operations that have struggled with supply shortages, the report said.

Shell could make a final investment decision on the Dragon project by year-end, the report added.

Shell told Reuters it is interested in acquiring the additional Loran assets as "the proximity to Manatee makes Loran an attractive investment opportunity."

The company did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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