Maduro proposes that Venezuela be a gas supplier to Mexico

Maduro proposes that Venezuela be a gas supplier to Mexico

VENEZUELA.

Nicholas Mature, President of Venezuela, proposed on Friday convert the state oil company PDVSA is a safe gas supplier to Mexico due to supply problems from Texas.

The Venezuelan president assured that Venezuela can become at the provider natural gas for Mexico and thus guarantee energy security in the country.

We should propose to be safe gas suppliers to Mexico for its energy efficiency, ‘Maduro said at a press conference.

Texas this week banned out-of-state exports due to an unprecedented cold snap, prompting Mexico to import liquefied natural gas (LNG) under emergency conditions.

We must speak with our brothers in Mexico, we must speak with the Mexican government because I have seen the whole issue of gas supply and the effort that President (Andrés Manuel) López Obrador is making to solve it, “Maduro said in a ceremony in the Caracas headquarters of the state-owned Petróleos de Venezuela.

It is one of the new goals that I propose (…) to supply Venezuelan gas to Mexico, “the president added in the act broadcast on state television.

Maduro did not provide further details. Venezuela does not have a liquefaction plant to convert natural gas into LNG, which would be necessary to send the gas by sea.

The country, with liquidity problems and under heavy US sanctions, would have difficulties financing a project of this type.

There is no liquefaction terminal in Venezuela, nor will there be in the medium term, “said Antero Alvarado, managing partner of consulting firm Gas Energy Latin America in Venezuela.

The South American country has vast gas reserves and could theoretically export gas to neighboring Trinidad and Tobago, which has several LNG plants, but there is currently no gas pipeline connecting the two countries.

During the speech, Maduro said that he had signed a decree that extends a declaration of “energy emergency” in the country’s oil industry for another year, citing US sanctions on Petróleos de Venezuela.

Oil Minister Tareck El Aissami said during the event that PDVSA’s crude production would reach 1.5 million barrels per day (bpd) this year. The South American country told OPEC it produced 484,000 bpd in January, less than half its average of 1 million bpd in 2019.

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