Rosneft and PDVSA consider constructing power generation facilities in Venezuela - Rosneft

CARACAS, July 29. /TASS/. Rosneft and Venezuela's PDVSA are considering construction of power generation facilities in Venezuela, Rosneft said on Friday. "Rosneft and PDVSA with the involvement of Inter RAO - Export discussed possible cooperation options in development of Venezuela's electricity. The companies discuss possibility of constructing power generating facilities running on petroleum coke, gas, coal, and hydro potential. This will replace the existing power plants running on diesel fuel and direct the released volume of oil products to the market," the statement said. According to the statement, substantial amount of hydrocarbons produced in the country opens up broad prospects for use of hydrocarbons and the monetization of side produce. In particular, Rosneft and PDVSA discussed the prospects of transitioning Venezuelan diesel power plants to gas and associated petroleum gas (APG). At the end of the signing ceremony of bilateral documents, CEO of Rosneft Igor Sechin said, "Our joint initiatives in the field of utilization of associated gas and gas for the needs of the electric power opens up new prospects of improving economic efficiency of Rosneft and PDVSA joint venture." Read more