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Financial News: VENEZUELA: PDVSA Plans To Export 1,600 Cubic Feet

VENEZUELA: PDVSA Plans To Export 1,600 Cubic Feet Of Gas Per Day

10/25/2017 - 16:43:00 (RTTNews)

(RTTNews) - Venezuelan state-owned oil company PDVSA plans in the medium to long term to export 1.6 billion cubic feet of gas daily, aiming at becoming a major exporter, said César Triana, vice president of PDVSA's gas division.

Triana also stressed that the company currently develops some projects to boost the gas sector in the country and, soon, will start the process of certification of reserves, allowing it to jump from the eighth to the fourth in the ranking of countries with the largest gas reserves in the world.

"These projects represent a major challenge for the national private industrial sector that supports us. We are currently negotiating with Trinidad a contract for the sale of gas," Triana said.

He also highlighted the process of replacing liquid hydrocarbons by gas for electricity generation in Venezuela, which in the last five years stood at 150 thousand barrels per day. Short-term savings of 60 thousand barrels per day are expected.

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