Venezuela Offshore LNG Terminal
| Part of the Global Gas Infrastructure Tracker, a Global Energy Monitor project. |
Venezuela Offshore LNG Terminal, also known as Terminal Marítimo de GNL de Venezuela, is a cancelled (confirmed) LNG export terminal in Venezuela.
Location
Table 1: Location details
| Name | Location | Coordinates (WGS 84) |
|---|---|---|
| Venezuela Offshore LNG Terminal | Venezuela[1] | 10.784384, -63.183186 (approximate) |
The map below shows the approximate location of the terminal:
Project Details
Table 2: Infrastructure details
| Name | Facility type | Status | Capacity | Total terminal capacity | Offshore | Associated infrastructure |
|---|---|---|---|---|---|---|
| Venezuela Offshore LNG Terminal | export[1] | cancelled (confirmed)[2][3][4][5] | – | – | False | offshore fields Patao, Mejillones and potentially Rio Caribe[1][6] |
Table 3: Cost
| Name | Facility type | Cost | Total known terminal costs |
|---|---|---|---|
| Venezuela Offshore LNG Terminal | export[1] | – | – |
Financing
No financing data available.
Table 4: Project timeline
| Name | Facility type | Status | Proposal year | FID year | Construction year | Operating year | Inactive year |
|---|---|---|---|---|---|---|---|
| Venezuela Offshore LNG Terminal | export[1] | cancelled (confirmed)[2][3][4][5] | 2016[1] | 2020 (Pre-FID)[7] | – | – | 2020 (cancelled)[2][3][4][8][3][4][5] |
Ownership
Table 5: Ownership
| Name | Facility type | Status | Owners | Parent companies | Operator |
|---|---|---|---|---|---|
| Venezuela Offshore LNG Terminal | export[1] | cancelled (confirmed)[2][3][4][5] | Petróleos de Venezuela SA [50%]; Rosneft PJSC [50%][1][1] | Petróleos de Venezuela SA [50.0%]; Rosneft PJSC [50.0%] | Rosneft[1] |
Background
In 2016 a preliminary deal was signed by Rosneft of Russia and Venezuela's state petroleum agency PDVSA for the development of an LNG export project. Under the joint venture agreement, the two companies were to implement a large-scale project for production, treatment and sale of natural gas from Venezuela's offshore fields at Patao, Mejillones and potentially Río Caribe. Rosneft was to be the operator of the joint venture, with both companies holding a 50 percent stake. The agreement was a continuation of the memorandum signed by the two companies in June 2015 launching feasibility studies for the project. At the time, it was estimated that production from the three fields could reach 25 million cubic meters per day, providing the potential to develop an LNG export project in Venezuela.[9]
In June 2019 an accord was signed by Russia and Venezuela giving Rosneft tax breaks to produce and export gas from the Patao and Mejillones fields, suggesting that further developments might be on the way.[10] Rosneft reportedly planned to make a final investment decision by 2020.[11] However, in March 2020 Rosneft announced that it was ceasing operations in Venezuela and selling all of its assets in the country.[12][13][14][15]
As there have been no development updates since 2016, the project is presumed to be cancelled.
Articles and Resources
Additional data
To access additional data, including an interactive map of LNG terminals, a downloadable dataset, and summary data, please visit the Global Gas Infrastructure Tracker on the Global Energy Monitor website.
References
- ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 https://www.lngworldnews.com/rosneft-pdvsa-mulling-lng-export-project-in-venezuela/.
{{cite web}}: Missing or empty|title=(help) - ↑ 2.0 2.1 2.2 2.3 https://www.argusmedia.com/en/news/2091594-rosneft-shifts-venezuela-burden-to-russian-state.
{{cite web}}: Missing or empty|title=(help) - ↑ 3.0 3.1 3.2 3.3 3.4 https://www.worldoil.com/news/2020/3/27/russia-nationalizes-venezuelan-assets-to-skirt-us-sanctions.
{{cite web}}: Missing or empty|title=(help) - ↑ 4.0 4.1 4.2 4.3 4.4 https://www.forbes.com/sites/arielcohen/2020/04/01/russias-rosneft-cuts-ties-with-venezuela-while-us-offers-a-peace-plan/.
{{cite web}}: Missing or empty|title=(help) - ↑ 5.0 5.1 5.2 5.3 https://www.nytimes.com/2020/03/28/world/americas/venezuela-rosneft-oil.html.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.bloomberg.com/news/articles/2019-06-20/russia-squeezing-embattled-venezuela-for-tax-free-gas-expansion.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.aa.com.tr/en/energy/finance/rosneft-to-make-fid-on-two-venezuelan-fields-in-2020/20154.
{{cite web}}: Missing or empty|title=(help) - ↑ https://www.argusmedia.com/en/news/2091594-rosneft-shifts-venezuela-burden-to-russian-state https://www.nytimes.com/2020/03/28/world/americas/venezuela-rosneft-oil.html; https://www.argusmedia.com/en/news/2091594-rosneft-shifts-venezuela-burden-to-russian-state.
{{cite web}}: Check|url=value (help); Missing or empty|title=(help) - ↑ "Rosneft, PDVSA mulling LNG export project in Venezuela" LNG World News, February 22, 2016
- ↑ Fabiola Zerpa and Peter Millard, Russia Squeezing Embattled Venezuela for Tax-Free Gas Expansion Bloomberg, June 19, 2019
- ↑ "Rosneft to make FID on two Venezuelan fields in 2020". AA Energy. May 22, 2018.
{{cite web}}: CS1 maint: url-status (link) - ↑ Kurmanaev, Anatoly; Krauss, Clifford; Kramer, Andrew E. (March 28, 2020). "Russian State Oil Company Rosneft, in Sudden Move, Sells Assets in Venezuela". The New York Times.
- ↑ "Rosneft shifts Venezuela burden to Russian state". Argus Media. March 28, 2020.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Russia nationalizes Venezuelan assets to skirt U.S. sanctions". World Oil. March 29, 2020.
{{cite web}}: CS1 maint: url-status (link) - ↑ Cohen, Ariel (April 1, 2020). "Russia's Rosneft Cuts Ties With Venezuela While U.S. Offers A Peace Plan". Forbes.
{{cite web}}: CS1 maint: url-status (link)
