Venezuela could fill the gap in global gas supply. This was reported by RIA News referring to Ivan Gil Pinto, head of the Venezuelan Ministry of Foreign Affairs.
According to him, Venezuela has one of the largest natural gas reserves in the world and could rank fourth in terms of volume. Earlier, President Nicolas Maduro said he had certified more than 50 gas fields on the country’s north coast.
Venezuela already has the world’s largest oil reserves. It now aims to become a leading player in the global gas market.
Before that, Pinto was the country’s intend To restore the previous joint oil production volume with Russia. According to the minister, just a few years ago for Rosneft this figure reached 120-150 thousand barrels per day. However, Western sanctions have seriously affected production levels. The focus of negotiations between the countries is the restoration of previous drilling volumes through the resumption of cooperation with Rosneft within the framework of the PDVSA joint venture. From now on, as Gil Pinto stated, the goal will be to double production. The minister expressed confidence that the joint efforts of the Russian Federation and Venezuela will make it possible to regain the lost oil production capacity.
Previously in Venezuela spoke About the oil embargo on Israel.