-- Shell (SHEL.L, SHELL.AS) confirmed that it is in discussions with Venezuela for the potential development of the Loran gas field, according to a company statement sent toon Friday.
The British oil and gas giant said Loran's proximity to its Manatee field in Trinidad and Tobago, where it expects to produce gas by 2027, makes the Venezuelan asset an attractive investment opportunity. Shell, however, noted that it has not taken any final investment decision on Loran.
Reuters on Thursday cited the chairman of Trinidad's National Gas Co., Gerald Ramdeen, as saying that Shell is planning to initiate natural gas production at the joint Loran-Manatee offshore field in 2027, and has increased the pipeline capacity for gas transport to Trinidad to 1 billion cubic feet per day from the previously planned 700 million cubic feet.