XRG Invests in Venezuelan Offshore Gas Reserves

ADNOC's XRG has made a significant investment in Venezuela's offshore natural gas resources, taking a stake in the Loran field, which holds more than 4 trillion cubic feet of gas.

The move aims to unlock the country's vast gas reserves for international markets and establish a direct path for its gas into the global LNG trade.

Venezuela is pursuing LNG export deals and has existing infrastructure that could be accessed by the project, according to XRG.