Petroleos de Venezuela, SA, through PDVSA Gas, signed a contract to start exporting natural gas to the Republic of Colombia, and boost the development of Venezuela’s huge natural gas reserves.
The contract was signed by the president of the subsidiary PDVSA Gas, Anton Castillo, and the general manager of Petromil Gas, S.A. E.S.P, Carlos Henao. "This is a giant step for the domestic gas industry, because for the first time in the history of our oil industry we will export natural gas through pipelines”, said Castillo.
The contract provides for the export of up to 50 million cubic feet per day (MMCFPD) from the gas fields in the Gulf of Venezuela, with proven reserves of 9.5 TCF and an infrastructure that currently handles 510 MMCFPD, forecasting 950 MMCFPD by 2018. Gas shipments will start on December 1st this year. They will meet the growing demand for energy in the sister nation.
In 2007PDVSA built a pipeline, 26 inches in diameter and 200 kilometers long, that connects the state of Zulia, in the Bolivarian Republic of Venezuela, specifically the oil zone of Lake Maracaibo, with La Guajira Department in the Republic of Colombia, in the area for collecting the gas produced offshore in the Ballena field. Venezuela imported gas from Colombia until July 2015.