LNG production project at Paria Gulf could begin next year
May 09, 2000 02:00 AM
Construction of a $ 2-3 bn LNG production project could begin next year in Venezuela's Paria Gulf. A feasibility
study into the project is jointly being carried out by Mitsubishi, Shell, Exxon Mobil and PDVSA. If the plan proves
viable, the plant is expected to produce 4 mm tpy of LNG by the year 2005, most of which would be shipped to the US
and Europe.
PDVSA controls 33 % of the project, while Shell has 30 %, Exxon Mobil 29 % and Mitsubishi 8 %. The project has
replaced Venezuela's older Cristobal Colon offshore LNG production project, which was finally shelved due to
viability aspects.
Source: Energy24
