With an estimated investment of $3.7m, it was revealed recently in Mexico that the Petroleos de Venezuela S.A. (PDVSA) expects to finish the LNG gas plant at the SIGMA complex in Guiria, Venezuela by the end of 2013.

Felix Rodriguez, president of PDVSA Gas, made the announcement to participants of the Second Global Year Summit of Infastructure of Natural Liquefied Gas, held in Mexico.

Rodriguez said that the infrastructure works present 36% of progress, which will allow the national oil industry to achieve its devised goals. It was also noted that the plant will provide a production of 4.7 million metric tonnes of LNG per year.

Venezueal boasts proven reserves of 180 trillion cubic feet of gas, equivalent to 2.4% of the world’s reserves, 59% of Central and South America and 29.3% of the America’s overall.

PDVSA is the Venezuelan state-owned petroleum company with activities that include the exploration and production of natural gas and status as the world’s fifth largest oil exporter.