LNG Energy Expands Operations in Venezuela

Lng Energy Group Corp. (TSE:LNGE) has released an update.

LNG Energy Group Corp. has secured two contracts for the development and production of hydrocarbons in Venezuelan onshore fields currently outputting 3,000 barrels per day, leveraging existing infrastructure. The company’s subsidiary, LNGEG Growth I Corp., has partnered with PDVSA Petroleo S.A. to operate these fields with a commitment to adhere to U.S. sanctions regulations. The contracts grant LNG Venezuela a substantial share of the production, contingent on meeting certain conditions within 120 business days.

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