Shell says the new U.S. general licenses for Venezuelan oil and gas, rolled out this month, mean the company can finally move forward on its long-stuck Dragon natural gas project. That field, estimated at roughly 4.5 trillion cubic feet of reserves, is intended to supply Trinidad’s Atlantic LNG facility—where both Shell and BP each hold 45% stakes. “The issuance of the recent general licenses is a positive signal, and it, indeed, allows for progress on our Dragon project,” a spokesperson told Reuters, pointing to years of holdups tied to changing U.S. policy. Atlantic LNG has room for 12 million tonnes a year, but only shipped 9 million tonnes in 2025, hampered by gas shortages, LSEG data showed.
