Bloomberg News

PDVSA Reviewing Plans to Develop LNG Facilities, Castillo Says

September 28, 2011

Sept. 28 (Bloomberg) -- Petroleos de Venezuela SA is reviewing its plans to develop liquefied natural gas projects for export because of low natural gas prices and high investment costs, PDVSA Gas Director Anton Castillo said.

The country is aiming to increase natural gas production and substitute 200,000 barrels a day of domestic oil consumption in the next three years, Castillo told reporters today in Puerto La Cruz, Venezuela.

To contact the editor responsible for this story: Charlie Devereux at

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