9 Apr 2010 18:51

Gazprom vying for spot in $8.3 bln Venezuela gas project

MOSCOW. April 9 (Interfax) - Gazprom may vie for a role in a big Venezuelan offshore gas project, Mariscal Sucre, PdVSA's Ruben Figuera told journalists.

Gazprom is one of the companies that has expressed interest in the project.

Russian companies are viewed as Venezuela's strategic partners, he said.

The project will require $8.3 billion in investment, he said. Venezuela will have a 60% stake in the project, the rest will divided among the investors. The stake Gazprom might receive is subject to negotiation, he said.

Ten companies bid in the tender on the project held on January 15, including Repsol, Gazprom, Statoil, Total, Itochu, Mitsui, Mitsubishi and others. But Venezuela was not satisfied with any of their proposals, and no contracts were signed. He said the project now has other financing proposals.

Figuera did not say whether a new tender will be held. That question is up to the Oil and Electricity Ministry, he said.