The Daily Journal.- On Tuesday, during her virtual address to the 8th Gas Exporting Countries Forum (GECF) Summit in Moscow, Venezuela’s acting president, Delcy Rodríguez, said the country aims to become a major natural gas producer capable of meeting domestic demand and exporting surplus supplies.
“We want to become a major natural gas producer, supplying both domestic consumption and export markets!” Rodríguez declared during her virtual address.
Rodríguez also highlighted projections that global natural gas demand will increase by more than 30% by 2055 and defended natural gas as a clean, affordable energy source. She emphasized that peace and “strict respect for international law are essential conditions for global energy stability.”
The acting president stated that Venezuela offers stable contractual conditions through its new Organic Hydrocarbons Law to strengthen its position as a major natural gas producer. She added that the country intends to make its gas reserves available to support international cooperation.
Russia maintains consultations with Caracas
Russian President Vladimir Putin supported Venezuela’s ambitions and stated that Russian companies have invested billions of dollars in the country’s energy sector. He also noted that Russia continues consultations with Caracas and “third countries” to maintain energy cooperation.
Venezuela’s efforts to establish itself as a major natural gas producer come amid U.S. oversight of Venezuelan crude oil marketing, following the bilateral agreement that both countries reached last August.
However, these ambitions face obstacles, including a lack of investment. According to the Venezuelan Gas Processors Association, this shortage has hindered efforts to bring additional natural gas volumes into production before the end of 2026.
Nevertheless, Venezuela continues to pursue strategic partnerships with companies such as Repsol and Eni to develop the Perla gas field, as well as with BP, XRG, and UCC for the second phase of the Lorán field.
With information from news agencies.
