March 23, 2007
Trinidad & Tobago and Venezuela unify oil gas reserves

(St Kitts Nevis Observer) - "Venezuela and Trinidad and Tobago have signed an accord to unify two offshore reserves of natural gas and oil.

The arrangement will allow the two neighbouring countries to jointly tap their vast undersea deposits.

Prime Minister Patrick Manning finalised the accord during a meeting with Venezuelan president Hugo Chávez in Caracas.

Mr Chávez said one of the two undersea fields is thought to contain some 10 trillion cubic feet of natural gas.

Trinidad and Tobago is a major exporter of natural gas, and also supplies oil to Caribbean countries.

Venezuela is a major oil exporter and has large, virtually untapped gas reserves".