Venezuela returns to the international natural gas stage

The signing of the license for the development of phase two in the Loran natural gas field will allow Venezuela to be reinserted on the global map of methane gas exporters, with Trinidad and Tobago and Caribbean countries as the first destinations, authorities from the energy sector reported during an interview on Venezolana de Televisión (VTV).

The minister of People’s Power for Hydrocarbons, Paula Henao, together with the president of Petróleos de Venezuela S. A. (PDVSA), Héctor Obregón, and the vice president of PDVSA Gas, Jannier Viloria, explained the scope of this agreement and the progress in the national energy matrix.

During his address, Henao emphasized that these agreements are part of the guidelines of the National Executive, led by acting Vice President Delcy Rodríguez, to strengthen the gas industry and meet both domestic consumption and the international market.

“Our acting vice president has promoted the development of the gas industry because she understands the importance of gas, not only for household and industrial use, but also for what the monetization of this resource represents in the global energy matrix,” said Henao.

He also specified that the alliances concluded in recent months are supported by the renewed Hydrocarbons Law and the Gas Law, a legal framework that, he assured, provides legal certainty and tax incentives for private and foreign investment.

The head of the Hydrocarbons portfolio also indicated that a review of the installed capacities is underway to reactivate the national petrochemical apparatus through the constant supply of gas.

Regarding the sector’s human talent, Henao valued the effort of oil workers: “Our greatest resource is not the reserves, it is our working class. Without them, none of this would have been possible in the most critical moments; they showed the commitment and ingenuity needed to leverage the industry.”

For his part, the president of PDVSA, Héctor Obregón, attributed the operational growth to the Hydrocarbons Productive Participation Contracts (CPPH), a scheme implemented since April 2024.

Obregón stated that through this model the goal of 1,200,000 barrels per day of oil (bpd) in 2025 was reached, which made it possible to cease the import of fuel for the domestic market.

“We guarantee the national supply and contribute to import substitution. In these eight months of 2026 we have maintained the supply of gasoline and diesel, in addition to adding to the market the high-octane Super Premium gasoline,” Obregón explained.

Finally, the vice president of PDVSA Gas, Jannier Viloria, explained that the production of non-associated gas from the Loran field will be allocated in a first stage to Trinidad and Tobago, without compromising the national supply.

“We have been recovering infrastructure to guarantee the domestic market and since February we have been exporting gas liquids. The goal is to consolidate Venezuela as an energy supplier not only for Latin America, but also for Europe and Asia”, Viloria emphasized.