Tarek El Aissami, Venezuela’s minister of petroleum, reported that the country is evaluating opportunities to market gas abroad in partnership with the Italian company ENI and the Spanish company Repsol.
“We are now seeing the business opportunities that gas has, and how we can take advantage of this situation for the benefit of ENI and Repsol, and for the benefit of the Republic,” said the Venezuelan official during a meeting with the press in the city of Caracas.
President Nicolás Maduro said last week that all signs indicate an impending crisis in Europe and the United States due to inflation, and in the energy sector as a result of the sanctions imposed against Russia for its special military operation in Ukraine, launched in late February.
El Aissimi said that ENI and Repsol currently operate in Venezuela, and explained that they supply the national market with more than 500 million cubic feet of dry gas and methane gas.
“There is a kind of gap between the development plan presented by them, at the time the license was approved, and the actual development of the field,” El Aissimi commented, “for which we are now evaluating compliance by these two companies, so that they can continue their development plan.”
The Venezuelan official emphasized that ENI and Repsol are operating in the agreed fields, that there is no confrontation with these companies, that they have good relations, and that they are in continuous conversation.
Repsol and ENI resumed operations in Venezuela in May, after the authorization issued to Repsol by the US government, following a meeting that Maduro held with a delegation from the Biden administration.
Translation: Orinoco Tribune
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