Shell Moves Ahead With Venezuela Gas Project After U.S. Sanctions Relief

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Shell will proceed with a natural gas project in Venezuela after receiving U.S. sanctions relief, indicating a positive development for the company's Dragon project.

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Sentiment
Bullish
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90%
Time Horizon
Short Term

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Shell plans to proceed with a natural gas project in Venezuela following Washington’s issuance of so-called general licenses for energy operators willing to invest in the country. “The issuance of the recent general licenses is a positive signal, and it, indeed, allows for progress on our Dragon project,” Shell’s spokesperson told Reuters. The Dragon project is an offshore field that contains an estimated 4.5 trillion cubic feet of natural gas that Shell plans to eventually liquefy and export from its Atlantic LNG facility…

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Original article published by OilPrice.com on February 20, 2026.
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