Update: Shell Confirms Plan to Produce Gas at Venezuela-Trinidad Offshore Field

(Updates with company confirmation in the headline and throughout the story.)Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago.The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson.Gerald Ramdeen, chairman of Trinidad's National Gas Company, said the state-owned enterprise has increased the capacity of the pipeline that will transport the gas to Trinidad to 1 billion cubic feet per day, according to Reuters.Price: $92.16, Change: $+1.07, Percent Change: +1.17%

-- (Updates with company confirmation in the headline and throughout the story.)

Shell (SHEL) confirmed in an email toon Friday that it is in talks with Venezuela to produce natural gas at the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago.

The company expects to produce gas from Manatee in 2027 but has yet to take a final investment decision on the Loran field, according to a spokesperson.

Gerald Ramdeen, chairman of Trinidad's National Gas Company, said the state-owned enterprise has increased the capacity of the pipeline that will transport the gas to Trinidad to 1 billion cubic feet per day, according to Reuters.

Price: $92.16, Change: $+1.07, Percent Change: +1.17%