Venezuela Eyes Gas Exports, LNG

Instant Max AI

(Energy Analytics Institute, 18.Jun.2015) – Petroleos de Venezuela SA (PDVSA) plans to boost investments in the Venezuelan natural gas sector over the next five years in order to almost double production to meet increasing domestic demand, reduce its reliance on fuel imports and eventually export excess gas volumes to generate additional dollar income.

PDVSA, as the state oil company is known, plans capital investments of $38.4bn during 2015-2019 to increase natural gas production from 7.4 Bcf/d in 2014 to 10.5 Bcf/d by 2019, said PDVSA official Douglas Sosa on 18 June 2015 during a hydrocarbon congress in Maracaibo, Venezuela. Increased gas production will assist PDVSA met increasing demand in the domestic market and reduce its dependence on costly refined product imports. Excess gas production could be destined for export markets in Latin America as well as Trinidad.

“We are talking about exports to Trinidad, Central America, South America and if we consider the LNG projects that we are promoting we could export this gas to further destinations,” said Sosa.

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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.

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