Liquefaction of Venezuelan natural gas is feasible but would require increased political will, Suez Energy International (SEI) CEO Dirk Beeuwsaert told journalists while visiting the north of Chile.
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"It's true Venezuela has large gas reserves, but the country has been promoting natural gas liquefaction plants for the last 15 years and so far nothing has happened," Beeuwsaert said.
Venezuela had 4.32Tm3 of proved natural gas reserves at the end of 2006, according to the BP Statistical Review of World Energy June 2007.
Venezuela re-injects much of its natural gas into oil wells because crude still is much easier to develop and sell than natural gas. The country has not been able to develop a reliable solution to developing natgas liquefaction plants, according to the CEO.
"Theoretically, it would be very easy to develop LNG in the country. There already is a huge liquefaction plant just on the other side in Trinidad and they could even bring Venezuelan gas to that plant and liquefy it there," Beeuwsaert continued.
"If there was political will, they could easily do it, but there isn't right now from what we have currently seen, unfortunately for the country and its inhabitants," he added.
Suez has LNG plants in Trinidad and the Middle East and regasification plants in the US and Europe. The company is developing a regasification plant in the northern Chilean port of Mejillones with Chile's state copper company Codelco though the GNL Mejillones JV.
