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CARACAS, Venezuela - Venezuelan state oil company PDVSA and Russian energy giant Gazprom are discussing cooperation in new gas projects in Venezuela, according to Venezuelan Foreign Minister Ivan Gil Pinto.
Pinto said in a statement that the two companies are "looking for new opportunities to collaborate in the gas sector, taking advantage of Venezuela's vast gas reserves." He added that the issue of cooperation will be resolved in the coming weeks.
The potential cooperation between PDVSA and Gazprom comes at a time when Venezuela is seeking to boost its gas production and exports. The country has some of the world's largest proven gas reserves, but it has struggled to develop its gas industry due to a lack of investment and infrastructure.
In recent years, Venezuela has turned to Russia for help in developing its gas industry. In 2020, PDVSA and Gazprom signed a memorandum of understanding on cooperation in the gas sector. The two companies have also been working together on a project to develop a gas field in the Caribbean Sea.
The potential cooperation between PDVSA and Gazprom would be a significant boost for Venezuela's gas industry. It would allow Venezuela to tap into its vast gas reserves and increase its gas exports, which would generate much-needed revenue for the country.
It would also be a sign of Venezuela's growing ties with Russia. Venezuela has been a close ally of Russia for many years, and the two countries have cooperated on a number of projects in recent years.
The potential cooperation between PDVSA and Gazprom is a positive development for Venezuela and Russia. It would allow both countries to tap into new opportunities in the gas sector and would strengthen their relationship.
Keywords: Venezuela, PDVSA, Gazprom, gas, cooperation, projects, reserves, investment, infrastructure, development, Russia, Caribbean Sea, exports, revenue, ties
