Related Articles
Forward article link
Share PDF with colleagues

Venezuela’s gas ambitions thwarted as developments struggle

Venezuela has the potential to become a major natural gas player, but it is struggling to develop its huge offshore reserves

The vast trove of natural gas in Venezuela’s Caribbean waters once inspired late president Hugo Chávez to draw up hugely ambitious export plans. Venezuela, Chávez said, would finally realise its long-held ambition to become a major liquefied natural gas (LNG) player with the construction of a multi-billion-dollar export plant on its east coast. The country would also pioneer South American energy integration by supplying a network of gas pipelines across the region. The most ambitious plan, announced to great fanfare in 2006, was an 8,000 km pipeline stretching south from Venezuela’s northeast coast through the Amazon to Brazil, Uruguay and Argentina. Chávez also envisioned a pipeline from

Also in this section
Serica sanguine on Iran sanctions
13 July 2018
The firm's historic links to Iran are in the spotlight as US sanctions resume
The return of cautious optimism in the North Sea
13 July 2018
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors
China loans make Venezuela’s outlook more precarious
12 July 2018
Patience is wearing thin among both China and other trading partners