en.Wedoany.com Reported - Eni and Repsol have reached an agreement with the Venezuelan government to start gas exports by the end of 2031, reviving a long-stalled plan to increase production at the Perla gas field in the Gulf of Venezuela. The agreement allows for more than doubling the field's output and exporting the fuel via a floating liquefied natural gas (FLNG) terminal.

The deal also guarantees billions of dollars in compensation to the two European companies for unpaid gas. Eni confirmed in a statement that it will leverage its FLNG experience to increase production and begin exports, while Repsol declined to comment. Informed sources revealed that the agreement was signed in mid-March, with details not made public, and the two companies plan to submit a final development plan by June.

Eni and Repsol discovered the Perla gas field in 2009, estimated to hold 17 trillion cubic feet of reserves, making it a significant gas resource in Latin America. The field currently produces about 585 million cubic feet of gas per day, supplying western Venezuela. The new agreement allows exports to begin once daily domestic supply reaches 645 million cubic feet. The plan involves installing two new platforms by 2028 to increase production to 1.2 billion cubic feet per day and extends the lease until 2051.

FLNG terminal technology is relatively rare, and Eni has relevant experience in Congo and Mozambique. Progress on this Venezuelan offshore gas project will help boost global LNG supply and support the rebuilding of energy infrastructure.

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