oil tankers
The increase in oil production in the country implies that there will be a rise in the availability of associated gas, so companies and producers want to participate actively in the revitalization of Venezuela’s energy sector.
Producers and international companies believe that one of the challenges in Venezuela is to define the use of natural gas, as well as to set prices and commercial terms, since it must become a market that supplies industry, generates electricity, and opens new investment opportunities.
According to Bloomberg Línea, the increase in the country’s oil production means there will be growth in the availability of associated gas, which implies that it is necessary to define what will be done with those volumes.
Santiago Fontiveros, managing partner of Sucre Energy Group, highlighted during the panel “Unlocking Venezuela’s Domestic Gas Market: Reform, Investment & Private Sector Growth” at the International Oil and Gas Summit in Venezuela (VIOGS 2026) that «we have too much gas; it’s not even a market problem—the issue is that we have to organize ourselves».
He said it is important to define the market, as well as the hydrocarbon price, so that the investments made in the sector can be profitable.
He also stated that the gas produced in Venezuela can serve both the domestic market and the regional one.
For his part, the General Director of Hidrocarburos at Valesco Group, Erwyn Hernández, emphasized that gas must be incorporated into new oil projects: «we have to plan for that gas, because that gas will be associated with oil production».
It is important to indicate that part of the volume of gas that would be extracted from crude production could be used to generate electricity in oil-producing areas; another part would supply industrial facilities, and another part would go to regional markets.
Likewise, Francisco Martínez, coordination manager for Cardón IV at Repsol, pointed out that «the opportunities are available both at the level of producers, and at the level of unmet demand, and at the level of existing infrastructure that today is not fully utilized».