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Venezuela, Great Perspectives
for Gas Reserves
Venezuela's gas reserves could
increase to more than 400
billions cubic feet because of
the development of that sector
boosted by the government,
Tuesday assured President of the
Gas National Entity (ENAGAS)
Jorge Luis Sanchez.
At present the country counts on
150 billion cubic feet of proved
reserves said Sanchez and added
that after this development the
south American nation would
advance to from the eighth to
the third world place.
Development perspectives in that
sector are extraordinary as the
country has plenty oilfields, he
remarked.
According to ENAGAS statistics,
71 percent of present reserves
are located in eastern Venezuela
and 24 percent in the west. The
rest are few portions in other
regions.
90.8 percent of that proved
reserve is gas associated to oil
and another 9.2 is
non-associated gas.
Russia heads the list of
countries with the highest
proved gas reserves in the world
with nearly two billion cubic
feet, followed by Iran, Qatar,
United Arab Emirates, Saudi
Arabia, the US, Algeria,
Venezuela, Nigeria and Iraq.
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