PDVSA: Chevron Eyeing LNG Train Project

US oil and gas major Chevron (NYSE: CVX) aims to build Venezuela's first LNG train, local and international press quoted Luis Vierma, E&P vice president for the South American country's PDVSA, as saying.

Chevron would build the plant along with the state oil company.

"They [Chevron] are interested in the construction of an LNG project and negotiations are going well. They are expected to supply first cargoes of LNG to our traditional market, which is the US, in 2012-13," Reuters quoted Vierma as saying at a conference in India.

Chevron has said that gas from its Plataforma Deltana blocks 2 and 3 would be used as feedstock for the LNG train, which could start operations in 2010.

The US company has not declared commerciality on the blocks, meaning they will not fall under the government's new nationalization plan, BNamericas reported earlier this week. Chevron's blocks have a combined 7Tf3 (198Bm3) in reserves.

But government officials aim to nationalize the country's gas production.

Chevron officials in Caracas declined to comment for this article Wednesday.

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