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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

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