Trinidad and Tobago plans to seek an extension of a US license for Shell (SHEL) to develop a key gas project in Venezuela in partnership with Trinidad's National Gas Company, Reuters reported Tuesday.

The US license granted to the Trinidad government in early 2023 exempts the project, which is intended to supply gas to Trinidad, from Washington's sanctions on Venezuela, according to the report.

A final investment decision on the project is expected this year, the report said, citing four unnamed persons close to the preparations.

Shell declined to comment when reached by MT Newswires and referred questions about the license to the Trinidad government.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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