The energy company Shell is evaluating a multi-billion dollar investment in Venezuela’s offshore natural gas sector, according to the company’s CEO, Wael Sawan.

This is an opportunity that could materialize in the coming months, according to Sawan, who spoke to CNBC. However, he clarified that Shell is currently “awaiting approvals for these investments,” according to Reuters.

It is important to note that to proceed with this multi-billion dollar investment, Shell would need to obtain a license from the U.S. Office of Foreign Assets Control (OFAC) to operate in Venezuela.

Regarding this, Sawan said: “We are currently awaiting OFAC licenses from the U.S. government, and within a relatively short timeframe, we believe we could reach a final decision on investment and production a couple of years later.”

M.Pino

Source: noticiasbarquisimeto

(Reference image source: Jethro Carullo on Unsplash)

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