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Venezuela Plans to Issue LNG Export License

LNG

Venezuela plans to issue a license to Eni and Repsol to export natural gas according to oil minister and head of Petroleos de Venezuela Pedro Tellechea.

  • An agreement was signed on 5 May that allows for the export of natural gas liquids to other markets. “In the next few days we will finish negotiating the LNG export license,” Tellechea said on Friday.
  • The two European companies want to resume their Cardon IV project “at its maximum capacity” of 1.3bcf Tellechea said. The project currently produces 580mcf of natural gas for domestic household and industrial demand.
  • Venezuela has previously focused on oil exports, but this is the first step toward enabling natural gas exports.

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