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    Russian Rosneft, Venezuelan PDVSA Plan to Launch Large-Scale Joint Project

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    Rosneft and PDVSA are planning a large-scale joint project that would also be engaged in activities with the liquefied natural gas.

    MOSCOW (Sputnik) — Russia's energy company Rosneft and Venezuela’s state-owned oil and gas company Petroleos de Venezuela (PDVSA) are planning a large-scale joint project that would also be engaged in activities with the liquefied natural gas (LNG), Rosneft Vice President Vlada Rusakova told Sputnik on Thursday.

    "In February 2016, Rosneft and Venezuela’s state-owned company PDVSA signed an agreement on main conditions of creation of a joint enterprise to implement a large-scale project on extraction, preparation and monetization of natural gas with the use of resources from Venezuela's offshore gas fields of Patao, Mejillones and potentially of Rio Caribe," Rusakova said.

    In June, Rosneft CEO Igor Sechin said that Rosneft will extract gas offshore in Venezuela and build a LNG plant in the Latin American country.

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    Rosneft, PDVSA, Russia, Venezuela
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