Natural Gas Strategic Initiatives: Powering the Energy Transition

As a global leader in hydrocarbon reserves, Corporación Venezolana del Petróleo (CVP) is committed to the strategic development of Venezuela’s vast natural gas resources. Recognizing natural gas as a critical bridge fuel for the global energy transition, CVP is executing a multi-phase strategy to harness both associated and non-associated gas reserves. Our focus is on ensuring national energy sovereignty while positioning the country as a competitive exporter to regional and global markets.

Offshore Gas Frontier: The Mariscal Sucre Project

One of CVP’s flagship engineering feats is the management and development of the offshore gas provinces. We are leading the technical and commercial advancement of major fields located on the continental shelf:
  • Offshore Infrastructure: Implementation of sophisticated subsea production systems and fixed platforms in the Caribbean Sea.
  • Field Synergy: Developing world-class reservoirs such as Dragon, Patao, and Mejillones to provide a stable supply of methane and liquefied petroleum gas (LPG) for industrial and domestic use.
  • International Connectivity: Strategic planning for cross-border pipeline integration to supply neighboring markets, fostering regional energy cooperation.

Associated Gas Capture and Environmental Stewardship

In the Orinoco Oil Belt and other traditional production areas, CVP is prioritizing the recovery of associated gas to eliminate flaring and reduce environmental impact:
  • Gas-to-Power Initiatives: Utilizing recovered gas to fuel local power plants, creating a self-sustaining energy cycle for our oil production facilities.
  • Compression and Treatment: Investing in high-pressure gas compression stations and cryogenic plants to extract valuable natural gas liquids (NGL).
  • Zero-Flaring Commitment: Deploying advanced vapor recovery units (VRU) to capture methane emissions, aligning our operations with global climate standards.

Strategic Partnerships in the Gas Sector

CVP operates under a flexible legal framework that encourages international collaboration in the gas industry. Our strategy includes:
  • Exploration Licenses: Granting licenses to global energy majors for the exploration and production of non-associated gas under attractive fiscal terms.
  • Technology Transfer: Partnering with specialized subsea engineering firms to bring the latest deep-water extraction technologies to Venezuelan waters.
  • Industrial Clusters: Developing gas-based industrial hubs (Petrochemicals and Fertilizers) to add value to the raw resource before export.

Expanding the Domestic and Export Network

The final pillar of our gas strategy is the modernization of the “Interconnection” infrastructure:
  • Pipeline Grid Expansion: Enhancing the national gas pipeline network to ensure reliable delivery to the industrial heartlands.
  • LNG Feasibility: Exploring the development of Liquefied Natural Gas (LNG) terminals to unlock global export routes, allowing Venezuelan gas to reach distant markets in Europe and Asia.