Venezuela’s acting president, Delcy Rodríguez, announced on Thursday, March 12, the signing of an agreement with the Spanish company Repsol and the Italian company Eni focused on guaranteeing the country’s gas supply.

Rodríguez told state television channel VTV: “I am very pleased that this is with two European companies that stayed in Venezuela, that believed in Venezuela, and that did not turn their backs on our people.”

She also indicated that the agreement covers “the exploitation of Cardón IV, one of the largest gas fields in Latin America,” located in Falcón state, which currently produces 580 million cubic feet of gas per day.

The agreement between Venezuela and the two European companies is expected to guarantee gas supplies, support national development, ensure domestic consumption, and promote exports.

M.Pino

Source: dw

(Reference image source: Martin Adams on Unsplash)

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La entrada Venezuela signs gas supply agreement with Repsol and Eni apareció primero en Bitfinance.

The Italian company Eni is maintaining dialogue with the United States regarding restrictions on its activity in Venezuela. However, in this process, the company will continue producing gas in the Latin American country.

The energy sector firm appointed Claudio Descalzi as its delegate for these negotiations with the Donald Trump administration. The official confirmed this Tuesday, April 8, that the Italian group “will continue producing gas in Venezuela so as not to create a social crisis” while finding a solution to the bans imposed by the United States.

They reaffirmed that their activity in Venezuela is not oil production but gas. Descalzi added: “As you know, we produce only for the domestic market, since it goes to families. Therefore, always respecting the regulations and sanctions, we are working with the US authorities to obtain an exemption; the contract allows it.”

He emphasized that Eni cannot stop gas production “because we are the only ones producing gas for Venezuela, and if we stop production, we would create a social crisis, which means we won’t get paid as usual.”

M.Pino

Source: elnacional

(Reference image source: Ilse Driessen on Unsplash)

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La entrada Eni to continue gas production in Venezuela apareció primero en Bitfinance.

Venezuela has signed an agreement to export natural gas to other markets with Italian state oil company ENI and Spain’s Repsol.

“In the presence of the ENI and Repsol authorities, we signed the permit for the export of natural gas liquids (LNG) from the Cardón IV license. Teamwork, Safe Victory!”, the Minister of Venezuelan oil and head of Petróleos de Venezuela, Rafael Tellechea.

The managing partner of Gas Energy Latin America for Venezuela, Antero Alvarado, has affirmed that this is a “necessary previous step” before both multinationals participate in other larger export projects in the region, according to the newspaper El Espectador.

The contract will allow a condensate recovery plant owned by Eni and Repsol to export the product to Europe, although no dates have been confirmed for when these exports will begin.

Cardón IV, a natural gas company managed jointly by Repsol and ENI that produces condensate sent to feed PDVSA’s refineries, has increased to 500 million cubic feet (about 14 million cubic meters) of natural gas per day in 2023, 31 % more than in 2019, according to Bloomberg data.

The signing came as the Venezuelan government and the companies negotiate to “have greater operational control over oil companies jointly owned with state energy company PDVSA.”

Source: dpa

(Reference image source: Eduardo Parra, Europa Press / dpa)

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La entrada Venezuela signs an agreement to export natural gas with ENI and Repsol apareció primero en Bitfinance.

The supply of gas to the Italian Eni from Russia was suspended by the government of Vladimir Putin. In this way, Gazprom has cut the supply arguing that it is a consequence of the recent change in regulations in Austria, the country through which the gas pipeline passes.

Deliveries to Eni were canceled this Saturday, Gazprom told the media. According to the Russian company, they cannot transport it across the border to Austria.

This was stated by Eni in a statement. The situation is delicate due to the consequences for the population of this cut, in the midst of the crisis aggravated by the leaks detected in the Nord Stream 1 and 2 pipelines, which link Russia and Germany.

For its part, the Russian Gazprom indicated in another statement that “the transport of Russian gas (…) through Austria has been suspended due to the refusal of the Austrian operator to confirm the transport authorizations” and that “it is working on the resolution of the issue”.

The European bloc’s sanctions on Russian gas exports have led dependent countries to look for alternatives, in the midst of the Russia-Ukraine conflict, which has also increased the prices of both gas and electricity in the rest of the world.

M.Pino

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Source: bancaynegocios

La entrada Italian Eni stops receiving gas from Russia’s Gazprom apareció primero en Bitfinance.