Opportunities evolve from Venezuelan gas sector reforms

The natural gas sector in Venezuela has recently undergone a profound change as a result of regulatory reforms launched in 1999 by the Ministry of Energy and Mines (MEM).One of the fundamental objectives of the new reform is to reduce the monopoly of Petroleos de Venezuela SA (PDVSA), the state oil and gas conglomerate, in natural gas upstream, downstream, transmission, distribution, and marketing activities by opening all of these to private investment.A second objective is to accelerate the creation of a more competitive and efficient market that can provide a strong base for the Venezuelan economy and stimulate its growth.To participate in upstream projects, companies must compete in a...

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