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...development involving $50,000,000,000 dollar investment.
Growing world demand for liquefied natural gas (LNG), especially the United States, thus presents an attractive of business opportunity for Venezuela. As a result, the state-owned PETROLEOS DE VENEZUELA SA (PDVSA) intends to go ahead with potential partners in developing the Mariscal Sucre LNG project, dubbed the Great Mariscal Sucre Industrial Complex (CIGMA). The partners in the planned undertaking and their respective shareholdings include PDVSA (60%), the Netherlands-based ROYAL DUTCH/SHELL GROUP (30%), MITSUBISHI of Japan (8%) and undisclosed Venezuelan investors (2%).
According to Luis Vierma, PDVSA Vice-President (Exploration & Production), negotiations with these potential partners for the purpose of committing to entering the market with the first shipment before the...
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