Venezuela holds approximately 5,500 bcm of proven gas reserves, the 7th-largest globally, but currently produces only 24 bcm per year. About 80% of that output is associated gas produced as a byproduct of oil wells, much of which is flared or reinjected. Baker Hughes aims to eventually export this gas by piping it from the Dragon field, located 9 miles from Trinidad's offshore platforms, into the existing Atlantic LNG plant to utilize spare capacity.
Tuesday, October 20, 2026
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Baker Hughes Partners with PDVSA to Turn Venezuelan Gas Into LNG
Commodities15 days ago
The oilfield services firm entered a strategic alliance with state energy company PDVSA and partners Lindsayca and Fulcrum LNG to expand gas processing and transport infrastructure. The agreement covers the entire value chain, including production, processing, pipelines, and potential liquefied natural gas exports, while a separate memorandum of understanding with New Stratus Energy will target oil and gas development. The first phase of the alliance focuses on meeting PDVSA's internal gas requirements and fueling power plants to mitigate frequent domestic blackouts.
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