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8754782 
Journal Article 
Focus on Andean nations. Petroleos de Venezuela (PDVSA) seeks to develop the gas sector of Venezuela 
Cumberbatch, N 
2005 
11 
3 
Portuguese 
Trustworthy supplier, with a long history of production, export, and refining of petroleum, Venezuela is ready to occupy a significant position in the global LNG market. Government policy is to transform the country into one of the principal LNG producers. With the price of petroleum as high as it is, the country has the financial resources needed to carry out this task. Proven gas reserves in Venezuela are an estimated 150 tcf. This is 58% of the proven reserves in South America. The gas reserves of Venezuela are considered to be the eighth largest in the world. A large part of the discovered reserves is on land and in the Caribbean Sea. Ironically, Venezuelan industry faces a gas deficiency by private groups of the order of 500 million cu ft/day that results in the consumption of large amounts of energy from other sources. The demand for LNG in the international market grows exponentially such that the strategy in Venezuela is to develop gas production for the domestic and international markets. Venezuela will encourage international energy companies such as the state owned PDVSA to develop gas fields on land and at sea. The discussion covers LNG exports; the Delta-Caribbean plan; international connections; increase in gas production; the Deltana platform; and possible new participants in the development of gas in Venezuela. They include ConocoPhillips, Total, Repsol YPF, and Statoil, and countries such as Russia, China, India, Spain, Argentina, Brazil, and Uruguay in partnership with PDVSA on land and at sea, with PDVSA having a majority share.