Venezuela has signed its first major liquefied petroleum gas (LPG) export agreement, marking a strategic pivot toward monetizing natural gas resources. The deal, finalized with a private energy consortium, involves exports of 120,000 tons annually from the Jose Antonio Anzotegui Petrochemical Complex.
- Venezuela signed a 120,000-ton annual LPG export deal from the Jose Antonio Anzotegui Petrochemical Complex.
- The agreement involves a private energy consortium and is set to begin shipments in Q3 2026.
- Estimated annual export revenue from the deal is $350 million at current global prices.
- The project is expected to generate over 350 direct jobs and support infrastructure upgrades.
- The move represents a strategic shift from oil-only exports to diversified hydrocarbon monetization.
- Venezuela holds 240 billion cubic meters of recoverable natural gas reserves, according to official records.
Venezuela has officially executed its first commercial liquefied petroleum gas (LPG) export contract, signaling a pivotal shift in its energy strategy. The agreement, inked in late January 2026, involves the export of 120,000 metric tons of LPG per year from the Jose Antonio Anzotegui Petrochemical Complex in Barcelona, Anzoategui State. This facility, previously underutilized due to chronic underinvestment and infrastructure decay, is now undergoing targeted upgrades to support export operations. The deal marks a departure from Venezuela's long-standing reliance on crude oil exports. By leveraging its estimated 240 billion cubic meters of recoverable natural gas reserves—partially documented in official disclosures from 2019 to 2022—the country aims to diversify export revenues and reduce dependence on volatile oil markets. The LPG supply is expected to be delivered to a multinational energy consortium based in the Caribbean region, with initial shipments scheduled to begin in Q3 2026. The move is expected to generate an estimated $350 million in annual export revenue, assuming current global LPG pricing averages. This could provide much-needed foreign exchange inflows and support broader economic stabilization efforts. Additionally, the project is projected to create over 350 direct jobs and stimulate ancillary infrastructure development, including pipeline expansions and storage capacity upgrades. Energy analysts note that the deal reflects growing confidence in Venezuela’s ability to manage its hydrocarbon assets, despite ongoing challenges related to sanctions, technical capacity, and regulatory transparency. The success of this initial export could pave the way for future contracts involving ethane, butane, and other petrochemicals derived from natural gas processing.