NEWS
Shell still interested in Venezuelan gas role
London, Aug 23 (LNG journal)
- Royal Dutch Shell said Tuesday it was still interested in being a partner in Venezuela's gas activities, even as press reports in the country said the Venezuelans had ended the $2.7 billion Mariscal Sucre liquefied natural gas project.
"While we are aware of the press reports, we have not yet had any confirmation from the government that the project has ended," said a Shell spokesman in London . "It is up to the government to decide how it chooses to develop its natural resources, but we are still interested in offering our experience in adding value through cooperation."
Venezuelan Oil Minister Rafael Ramirez was quoted in the local press as saying the split resulted from Venezuela wanting gas fields in the Mariscal Sucre project to be exploited for domestic use, while Shell was still keen on the LNG project.
Venezuela 's Ministry of Energy and Mines, Shell and others signed agreements as far back as 2002 to develop the project. At one time it was scheduled to be operational by 2007. It was delayed on a number of occasions because of concerns about its viability when project costs were higher.
Venezuela has Latin America 's largest reserves of natural gas but development of the gas fields has lagged behind crude oil and the country doesn't expect to meet its own domestic gas needs until 2008.
