Partners advance revamped Venezuelan LNG project

Partners in a planned $2.5-3 billion Venezuelan LNG export scheme-newly dubbed the Mariscal Sucre LNG project-are making advances toward development phases for a project that would tap as much as 10 tcf of natural gas from the Norte de Paria fields off Venezuela's northeastern coast in the Caribbean Sea. The project would also entail the construction of a 4.7 million tonne/year LNG terminal in the port town of Guiria on the Paria peninsula.Construction is slated to begin in 2005, with exports expected to start in 2007. Markets would include other areas of the Caribbean and along the US East Coast.Venezuela's Ministry of Energy and Mines, state firm Petroleos de Venezuela SA, Royal...

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