VENEZUELA'S LNG PROJECT PARTNERS SIGN AGREEMENT

Venezuela's long negotiated liquefied natural gas export project has a green light from project partners. Petroleos de Venezuela unit Lagoven SA, Shell International Petroleum Co. Ltd., Exxon Corp, and Mitsubishi Corp. late last month signed a joint venture agreement for their $4 billion project to develop gas fields off eastern Venezuela and export the gas as LNG, mainly to the U.S., by 2000. The partners in the Cristobal Colon LNG export project estimate preliminary investments of about

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