Petróleos de Venezuela, S.A. (PDVSA) is planning to export 1.6 billion cubic feet of gas per day in the medium and long term and thus become a true exporting power thanks to gas pipelines, Floating Natural Gas Liquids (Floating NGL) and its privileged geographical location in relation to countries like El Salvador, Panama, Haiti, Dominican Republic, Colombia, Aruba, Curacao and Trinidad and Tobago.

PDVSA is currently developing projects aimed at boosting the domestic gas sector. Venezuela will be the country with the 8th largest gas reserves in the world after reserve certification which will begin soon.

This is according to César Triana, PDVSA Vice President of Gas, who spoke at the seminar "Costs, prices and tariffs of natural gas", sponsored by the Venezuelan Gas Processors Association (AVPG) in Caracas.

He also said that Venezuela "will enter the NGL market in the short term and the Floating NGL on a large scale”, while stressing the regional market’s promising opportunities as well as the efforts and gas exporting mechanisms already underway with Aruba, Colombia and Trinidad and Tobago to redirect production growth.

"These projects represent a major challenge for the private national industrial sector that supports us. At the moment we are negotiating with Trinidad a contract for the sale of gas. In the years ahead we will be able to export approximately 500 million cubic feet of gas per day through gas pipeline. Additionally, we’re planning to include domestic companies in this project”, he said.

Triana spoke in detail about gas pricing in the international market, internal and external factors, while pointing out that Venezuela has competitive advantages due to its geographical proximity to potential customers.

He also spoke about the steady efforts to replace liquid hydrocarbons with gas for electric power generation in the country: 150,000 barrels per day in five years, with additional savings of 60,000 barrels per day in the short term.

Julio Ohep, President of AVPG; Luis Xavier Grisanti, President of the Venezuelan Hydrocarbons Association (AVHI); Ramiro Royero, New Business Manager of PDVSA's Offshore Executive Office, among others, also participated at the seminar.

Business representatives from the national gas sector shared their views on gas worldwide and their vision, expectations and opportunities for gas in Venezuela.

About PDVSA

Petróleos de Venezuela S.A., the state-owned corporation of the Bolivarian Republic of Venezuela, is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and commerce of hydrocarbons. This company is deeply committed to environmental protection and its main objectives are to foster the harmonic development of the country, to guarantee sovereignty of national resources, to increase endogenous development and to serve and benefit the Venezuelan people, who correspond to their share of the country’s national wealth.