XRG, the investment arm of Abu Dhabi National Oil Company, said on Thursday it
has been awarded a development license for the Loran gas field in the Caribbean,
which straddles the Venezuela–Trinidad and Tobago boundary. XRG will hold the
license jointly with BP and Qatar’s UCC to develop more than 4 tcf of gas. The
gas is slated to supplement Trinidad’s industrial feedstock, including supply to
the Atlantic LNG complex operated by Shell and BP, and to petrochemical and
fertilizer plants that have faced multi-year gas rationing.
