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Article: Venezuela - The Gas Sector.
- Article from:
- APS Review Downstream Trends
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Input Solutions. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Venezuela has 147 TCF (4.15 TCM) of proven reserves of natural. The country is producing about 6,300 MCF/d, excluding gas extracted for re-injection into the oilfields. With domestic demand now averaging 7,850 MCF/d, there is a deficit of 1,550 MCF/d. Experts at PDVSA expect this deficit to grow to 1,800 MCF/d by 2013, if the planned increase in local gas production is exported as has been forecast in recent years.
According to Enagas, the state regulator the gas sector, in normal condition the petroleum industry should consume over 70% of Venezuela's gas production, with the largest share going into re-injection to aid crude oil extraction. But now there is ...