Sycar Venezuela FLNG Terminal

This article is part of the Global Fossil Infrastructure Tracker, a project of Global Energy Monitor.

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Sycar Venezuela FLNG Terminal is a proposed liquefied natural gas (LNG) export terminal in Venezuela.

Location

The terminal is proposed to be located offshore from the José Antonio Anzoátegui Petrochemical Complex in Anzoátegui state, Venezuela.

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Project details

• Operator: Sycar, PDVSA
• Owner: Sycar, PDVSA
• Parent company: Sycar, PDVSA
• Vessel:
• Vessel operator:
• Vessel owner:
• Vessel parent company:
• Location: José Antonio Anzoátegui Petrochemical Complex, Barcelona, Anzoátegui state, Venezuela
• Coordinates: 10.088111, -64.862283
• Capacity: TBD
• Status: Proposed
• Type: Export
• Start year: 2024
• Cost:
• Financing:
• FID status: Pre-FID
• Associated infrastructure:

Background

In November 2022, US-based Sycar announced that it had signed a memorandum of understanding with Venezuela's state-owned oil and gas company PDVSA to develop a new floating liquefied natural gas terminal (FLNG) adjacent to the José Antonio Anzoátegui Petrochemical Complex near Barcelona, Anzoátegui state, Venezuela. Sycar plans to export LNG from the new terminal to countries in Latin America and Europe.

In announcing the new project, Sycar noted that it had already begun applying for the necessary marine concessions and environmental permits from Venezuelan authorities, while simultaneously seeking a license from the US Office of Foreign Asset Control (OFAC) allowing it to liquefy and export Venezuelan fossil gas. Upon issuance of the required permits, Sycar anticipated that exports from the new terminal could begin as early as 2024. A Sycar spokesman indicated that the company hoped to circumvent US sanctions against Venezuela by arguing that the new terminal would reduce the negative environmental and climate impacts resulting from the country's current unrestricted flaring of large quantities of excess fossil gas.