According to CoinMeta, the investment department of Abu Dhabi National Oil Company in the United Arab Emirates, XRG, stated on Thursday that the company has obtained a development license for the Loran gas field. Located in the Caribbean Sea and spanning the border between Venezuela and Trinidad and Tobago, XRG will jointly hold the rights to this license with British Petroleum (BP) and Qatar’s UCC oil and gas company, to develop over 4 trillion cubic feet of natural gas resources. This natural gas will be used to supplement the industrial natural gas supply for neighboring Trinidad, including the Atlantic LNG plant operated by Shell and British Petroleum, as well as petrochemical and fertilizer plants that have been subject to natural gas rationing restrictions for many years.