Venezuela harbours offshore gas revolution


Venezuela reportedly plans a ‘gas revolution’ to develop offshore reserves for domestic needs and liquefy natural gas for export by 2014, with the help of foreign partners.

Petroleos de Venezuela SA (PDVSA) plans to begin production of LNG in 2014, from as many as three plants after it boosts supplies for its home market, according to news from Bloomberg.

Venezuela is home to the largest gas reserves in South America and wants to extract more value from these, following a trend among resource-holding nations in using foreign partners to build LNG plants to reach markets too distant for pipelines.

The PDVSA will retain a majority stake in all three planned projects.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...