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Venezuela Gas Markets, 2010

Published By :

GlobalData

Published Date : Jul 2010

Category :

Natural Gas

No. of Pages : 104 Pages


This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Venezuela. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the natural gas assets (gas fields, pipelines, LNG terminals and underground gas storage facilities) in Venezuela. The report compares the investment environment in Venezuela with other countries in the region. The profiles of the major companies operating in the natural gas sector in Venezuela together with the latest news and deals are also included in the report.

Scope

  • Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 1996-2020.
  • Historical and forecast data and information for all the major gas fields, (Liquified Natural Gas) LNG Terminals, pipelines and underground gas storage facilities in Venezuela for the period 2000-2013.
  • Operator and equity details for major natural gas assets in Venezuela.
  • Key information relating to market regulations, key energy assets and the key companies operating in the Venezuelas energy industry.
  • Information on the top companies in the Venezuela including business description, strategic analysis, and financial information.
  • Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
  • Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.
Reasons to buy

  • Gain a strong understanding of the countrys energy market. 
  • Facilitate market analysis and forecasting of future industry trends.
  • Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data. 
  • Assess your competitors major natural gas assets and their performance.
  • Analyze the latest news and financial deals in the gas sector of each country.
  • Develop strategies based on the latest operational, financial, and regulatory events. 
  • Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
  • Identify and analyze the strengths and weaknesses of the leading companies in the country.
Table Of Contents

1 Table Of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9

2 Venezuela Energy Sector 10
2.1 Venezuela Energy Sector, Market Overview 10
2.2 Venezuela Energy Sector, Natural Gas 11
2.2.1 Venezuela Natural Gas, Overview 11
2.2.2 Venezuela Natural Gas, Supply and Demand Balance 11
2.2.3 Venezuela Natural Gas, Regulatory Structure 15
2.2.4 Venezuela Natural Gas, Infrastructure 15

3 Venezuela Gas Upstream Investment Environment Benchmarking 17
3.1 Introduction 17
3.2 The Overall Ranking 17
3.3 Upstream Fiscal Attractiveness 18
3.3.1 Maximum Government Take Index 19
3.3.2 Maximum State Participation Index 19
3.3.3 Domestic Market Obligation Index 19
3.4 Gas Sector Performance 20
3.4.1 Exploration Activity 22
3.4.2 Gas Production 23
3.4.3 Gas Reserves 23
3.4.4 Gas Consumption 23
3.5 Economic Performance 24
3.5.1 GDP Growth Index 25
3.5.2 FDI Confidence Index 25
3.5.3 Balance of Trade Index 25
3.6 Socio-Political Performance 26
3.6.1 Democracy Index 27
3.6.2 Governance Index 27

4 Venezuela Exploration and Production Sector 28
4.1 Venezuela Exploration and Production Sector, Country Snapshot 28
4.1.1 Venezuela Exploration and Production Sector, Key Data 28
4.1.2 Venezuela Exploration and Production Sector, Natural Gas Assets Map 28
4.2 Venezuela Exploration and Production Sector, Marketed Natural Gas Production 29
4.2.1 Venezuela Exploration and Production Sector, Marketed Natural Gas-Historical Production 29
4.2.2 Venezuela Exploration and Production Sector, Marketed Natural Gas Production by Type 30
4.2.3 Venezuela Exploration and Production Sector, Marketed Natural Gas Production by Assets 31
4.2.4 Venezuela Exploration and Production Sector, Marketed Equity Weighted Natural Gas Production by Company 31
4.2.5 Venezuela Exploration and Production Sector, Market Share based on Marketed Equity Weighted Natural Gas Production 32
4.3 Venezuela Exploration and Production Sector, Marketed Natural Gas Forecasts 33
4.3.1 Venezuela Exploration and Production Sector, Marketed Natural Gas Forecasted Production 33
4.4 Venezuela Exploration And Production Sector, Natural Gas Asset Details 34
4.4.1 Venezuela Exploration And Production Sector, Active Natural Gas Asset Details 34
4.4.2 Venezuela Exploration And Production Sector, Planned Natural Gas Asset Details 34
4.5 Venezuela Exploration And Production Sector, Major Gas Discoveries 35
4.5.1 Venezuela Exploration And Production Sector, Number of Gas Discoveries, 2004- 2009 35
4.5.2 Venezuela Exploration And Production Sector, Gas Discovery Details 36
4.6 Venezuela Exploration And Production Sector, Recent Discoveries 36
4.6.1 Apr 12, 2010: Repsol Makes New Discovery In Perla 2 Well In Perla Field, Gulf Of Venezuela 36
4.7 Venezuela Exploration And Production Sector, Drilling and Production Updates 36
4.7.1 Apr 22, 2010: OVL Produces 8.870 MMT Of Oil And Oil Equivalent Gas In 2009-10 36
4.7.2 Apr 12, 2010: Eni's Perla Resources To Increase By More Than 30% 37
4.7.3 Mar 15, 2010: RIL And MRPL To Purchase 45% Of Crude Oil From OVL's Venezuela Oilfield 37
4.7.4 Feb 25, 2010: PEMEX Oil Output Drops In January 2010 38

5 Venezuela Pipeline Sector 39
5.1 Venezuela Pipeline Sector, Key Data 39
5.2 Venezuela Pipeline Sector, An Overview 39
5.3 Venezuela Pipeline Sector, Natural Gas Pipeline Companies 39
5.4 Venezuela Pipeline Sector, Natural Gas Pipelines 40

6 Venezuela LNG Sector 41
6.1 Venezuela LNG Sector, Liquefaction 41
6.1.1 Venezuela LNG Sector, Liquefaction, Total Liquefaction Capacity 41
6.1.2 Venezuela LNG Gas Sector, Liquefaction, Market Share By Company 42
6.1.3 Venezuela LNG Sector, Asset- Wise Liquefaction Capacity 43

7 Profile of Petroleos de Venezuela S.A. 44
7.1 Petroleos de Venezuela S.A., Key Information 44
7.2 Petroleos de Venezuela S.A., Company Overview 44
7.3 Petroleos de Venezuela S.A., Business Description 44
7.3.1 Business Overview 44
7.4 Petroleos de Venezuela S.A., SWOT Analysis 46
7.4.1 Overview 46
7.4.2 Petroleos de Venezuela S.A. Strengths 46
7.4.3 Petroleos de Venezuela S.A. Weaknesses 48
7.4.4 Petroleos de Venezuela S.A. Opportunities 48
7.4.5 Petroleos de Venezuela S.A. Threats 49

8 Profile of Chevron Corporation 51
8.1 Chevron Corporation, Key Information. 51
8.2 Chevron Corporation, Company Overview 51
8.3 Chevron Corporation, Business Description 51
8.3.1 Business Overview 51
8.3.2 Chemicals 52
8.3.3 Downstream 52
8.3.4 Others 54
8.3.5 Upstream Segment 55
8.4 Chevron Corporation, SWOT Analysis 57
8.4.1 Overview 57
8.4.2 Chevron Corporation Strengths 58
8.4.3 Chevron Corporation Weaknesses 59
8.4.4 Chevron Corporation Opportunities 60
8.4.5 Chevron Corporation Threats 61

9 Profile of TOTAL S.A. 63
9.1 TOTAL S.A., Key Information 63
9.2 TOTAL S.A., Company Overview 63
9.3 TOTAL S.A., Business Description 63
9.3.1 Business Overview 63
9.3.2 Chemicals 64
9.3.3 Downstream 65
9.3.4 Upstream 66
9.4 TOTAL S.A., SWOT Analysis 68
9.4.1 Overview 68
9.4.2 TOTAL S.A. Strengths 68
9.4.3 TOTAL S.A. Weaknesses 70
9.4.4 TOTAL S.A. Opportunities 70
9.4.5 TOTAL S.A. Threats 72

10 Financial Deals Landscape 74
10.1 Detailed Deal Summary 74
10.1.1 Acquisition 74
10.1.2 Debt Offerings 75
10.1.3 Partnerships 76
10.1.4 Asset Transactions 87

11 Recent Developments 91
11.1 License Rounds 91
11.1.1 May 17, 2010: Venezuela To Assign Another Oil Block In 2010 91
11.1.2 Jan 29, 2010: Venezuela Oil Blocks' Auction Ends 91
11.1.3 Jan 13, 2010: Venezuela Launches Carabobo Oil Field Auction On Time 91
11.1.4 Jan 12, 2010: Venezuela's Carabobo Sale Still On Amid Currency Devaluation: PDVSA Official 92
11.2 License Awards 92
11.2.1 Apr 08, 2010: Chevron Gets Approval To Extract Natural Gas In Plataforma Deltana Project 92
11.2.2 Feb 11, 2010: Repsol-Led Consortium Wins Oil Rights In Venezuela 93
11.2.3 Feb 10, 2010: Chevron-Led Consortium Wins Rights To Develop New Venezuelan Energy Project 94
11.3 Strategy and Business Expansion 94
11.3.1 Apr 19, 2010: China And Venezuela Sign Agreements On Junin-4 Block And Long-Term Financing Loan 94
11.4 Other Significant Developments 95
11.4.1 May 23, 2010: Venezuela To Increase Oil Production In 2010 95
11.4.2 May 12, 2010: Venezuela To Produce 4.15 Million Bpd Of Oil By 2015 95
11.4.3 May 06, 2010: OVL And Partners To Sign Contract For Venezuela Oilfield 95
11.4.4 May 05, 2010: Indian Companies To Increase Oil Production In Venezuela 96
11.4.5 Apr 02, 2010: PDVSA Updates On Pearl 2X Well In Gulf Of Venezuela 97
11.4.6 Mar 18, 2010: Venezuela's Proven Reserves Amount To 211.17 Billion Barrels In 2009 97
11.4.7 Feb 17, 2010: OVL, Partners To Invest $2.25 Billion In Venezuelan Project Development 97
11.4.8 Jan 27, 2010: PDVSA South Center Begins Operations In Guarico, Venezuela 98
11.4.9 Jan 21, 2010: Harvest Natural Resources Provides Operational Update 98

12 Appendix 101
12.1 Methodology 101
12.1.1 Coverage 102
12.1.2 Secondary Research 103
12.1.3 Primary Research 103
12.1.4 Midstream Forecasts 103
12.1.5 Expert Panel Validation 103
12.2 Contact Us 104
12.3 About GlobalData 104
12.4 Disclaimer 104

List of Table


Table 1: Venezuela, Historic and Forecast Production and Consumption of Natural Gas, Billion Cubic Feet, 1996-2020 12
Table 2: Venezuela, Historic Reserves of Natural Gas, Billion Cubic Feet, 1996-2009 14
Table 3: South and Central America, Investment Benchmarking, Overall Country Rankings, April 2010 17
Table 4: South and Central America, Investment Benchmarking, Upstream Fiscal Attractiveness, April 2010 18
Table 5: South and Central America, Investment Benchmarking, Gas Sector Performance, April 2010 20
Table 6: South and Central America, Investment Benchmarking, Economic Performance, April 2010 24
Table 7: South and Central America, Country Standings, Economic Performance, April 2010 24
Table 8: South and Central America, Investment Benchmarking, Socio-Political Performance, April 2010 26
Table 9: South and Central America, Country Standings, Socio-Political Performance, April 2010 26
Table 10: Venezuela, Natural Gas Key Statistics, 2009 28
Table 11: Venezuela, Total Marketed Natural Gas Production (MMcf), 2002- 2009 29
Table 12: Venezuela, Marketed Natural Gas Production by Type (MMcf), 2002- 2009 30
Table 13: Venezuela, Marketed Natural Gas Production (MMcf), by Assets, 2002- 2009 31
Table 14: Venezuela, Marketed Equity Weighted Natural Gas Production by Company (MMcf), 2002-2009 31
Table 15: Venezuela, Market Share (%) based on Marketed Equity Weighted Natural Gas Production, 2002-2009 32
Table 16: Venezuela, Marketed Natural Gas Production (MMcf), Forecast by Major Assets, 2010-2015 33
Table 17: Venezuela, Active Gas Field Asset Details 34
Table 18: Venezuela, Planned Gas Field Asset Details 34
Table 19: Venezuela, Number of Gas Discoveries, 2004- 2009 35
Table 20: Venezuela, Gas Discovery Details, 2004-2009 36
Table 21: Venezuela, Pipeline Key Statistics, 2009 39
Table 22: Venezuela, Natural Gas Pipeline Length by Company (Km), 2009 39
Table 23: Venezuela, Natural Gas Pipelines, 2009 40
Table 24: Venezuela Liquefaction Capacity (Million Tonnes), 2000-2015 41
Table 25: Venezuela, Liquefaction Capacity by Company (Million Tonnes), 2000-2015 42
Table 26: Venezuela, Liquefaction Capacity (Million Tonnes), 2000-2015 43
Table 27: Petroleos de Venezuela S.A., Key Facts 44
Table 28: Petroleos de Venezuela S.A., SWOT Analysis 46
Table 29: Chevron Corporation, Key Facts 51
Table 30: Chevron Corporation, SWOT Analysis 58
Table 31: TOTAL S.A., Key Facts 63
Table 32: TOTAL S.A., SWOT Analysis 68
Table 33: Anadarko Venezuela Rejects The Offer From PetroFalcon 74
Table 34: PDVSA Plans To Raise $3 Billion Through Euro Bond Offering 75
Table 35: PDVSA Enters Into Joint Venture With The Russian National Oil Consortium 76
Table 36: PDVSA And Eni Enter Into Joint Venture To Develop Block In Orinoco 77
Table 37: CNOOC To Form Joint Venture With PDVSA 78
Table 38: PetroVietnam To Enter Into Joint Venture With PDVSA 79
Table 39: Petroleos de Venezuela Enters Into Joint Venture With Consorcio Nacional 80
Table 40: Petroleos de Venezuela To Form Joint Venture With Gazprom, Rosneft, Lukoil, TNK-BP And Surgutneftegaz 81
Table 41: PetroChina Forms Joint Venture With Petroleos de Venezuela 82
Table 42: PDVSA, Marubeni, ITOCHU, Mitsubishi, Mitsui To Form Joint Venture 83
Table 43: Petrovietnam To Form A Joint Venture With Petroleos de Venezuela 84
Table 44: Gazprom Enters Into Partnership With Petroleos de Venezuela 85
Table 45: Rosneft, Gazprom, Lukoil, TNK-BP And Surgutneftegaz Forms Joint Venture With PDVSA 86
Table 46: Petroleos de Venezuela Acquires 40% Interest In Natural Gas Project From ConocoPhillips 87
Table 47: Repsol YPF To Acquire Minority Share In Barua-Motatan Oil Field From Petroleos de Venezuela 88
Table 48: Vinccler Terminates Acquisition Of 30% Stake In Cardon III Field From Chevron 89
Table 49: Vinccler Terminates To Acquire 25% Working Interest In Cardon IV Block From Repsol YPF 90

List of Chart


Figure 1: Venezuela, Energy Sector Break-Up, 2009 10
Figure 2: Venezuela, Natural Gas Oil Production and Consumption, Billion Cubic Feet, 1996-2020 13
Figure 3: Venezuela, Natural Gas Reserves, Billion Cubic Feet, 1996-2009 15
Figure 4: South and Central America, Country Standings, Upstream Fiscal Attractiveness, April 2010 19
Figure 5: South and Central America, Country Standings, Gas Sector Performance, by Reserves-Exploration & Production, April 2010 21
Figure 6: South and Central America, Country Standings, Gas Sector Performance, by Production & Consumption, April 2010 22
Figure 7: South and Central America, Country Standings, Exploration Blocks Awarded, April 2010 23
Figure 8: South and Central America, Country Standings, Economic Performance, April 2010 25
Figure 9: South and Central America, Country Standings, Socio-Political Performance, April 2010 27
Figure 10: Venezuela, Natural Gas Assets Map, 2009 28
Figure 11: Venezuela, Total Marketed Natural Gas Production (MMcf), 2002- 2009 29
Figure 12: Venezuela, Marketed Natural Gas Production by Type (MMcf), 2002- 2009 30
Figure 13: Venezuela, Marketed Equity Weighted Natural Gas Production by Company (MMcf), 2002-2009 32
Figure 14: Venezuela, Market Share (%) based on Marketed Equity Weighted Natural Gas Production, 2009 33
Figure 15: Venezuela, Number of Gas Discoveries, 2004- 2009 35
Figure 16: Venezuela Liquefaction Capacity (Million Tonnes), 2000-2015 41
Figure 17: Venezuela Liquefaction Capacity by Company (Million Tonnes), 2000-2015 42
Figure 18: GlobalData Methodology 102

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