Shell PLC (NYSE:SHEL) and Trinidad and Tobago's National Gas Company (NGC) are close to an agreement to credit Venezuela's state-run oil firm PDVSA for its $1 billion investment in a gas field they plan to develop jointly. This could accelerate a long-delayed offshore development initiative. The US authorized Venezuela's PDVSA, Shell, and NGC for two years to revitalize the project in January. Shell and NGC have not yet committed to PDVSA on the reimbursement but are ready to settle for 'all legitimate claims'.