VENEZUELA PICKS THREE FIRMS FOR LNG PROJECT
Venezuela has chosen Exxon Corp., Mitsubishi Heavy Industries Ltd., and Royal Dutch/Shell Group to participate in its $3 billion liquefied natural gas export project. It's the first time international oil companies have been involved in an oil or gas project in Venezuela since the country nationalized its oil industry in 1976. Units of Exxon and the Shell group were nationalized. The three companies will be partners with Lagoven SA, a unit of state owned Petroleos de Venezuela SA.