Consolidated Energy - comment
The tensions between the US and Venezuela are hurting Consolidated Energy (CONSEN) bonds. We think the concerns are overdone. Delays in developing this field will not impact current gas production; in the longer term, T&T will need to secure supplies. The US has approved Trinidad & Tobago (T&T) negotiating with Venezuela to develop the gas field, and these negotiations have been ongoing since 2023, with the US extending the permission earlier this month. T&T has declined to say whether negotiations with Venezuela have even begun. In the short term, clashes could impair production, but as the fields are all offshore, this is less likely.
https://www.bbc.com/news/articles/c0ex1jq9pdvo
https://ngc.co.tt/wp-content/uploads/2024/01/Energy-Map-of-Trinidad-Tobago-2023.pdf