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Shell in advanced talks with Venezuela for four large offshore natural gas areas

Development Gas announced Venezuela Apr 1, 2026

Shell is in advanced talks with Venezuela's government to develop four large offshore natural gas areas, including the 4.2-tcf Dragon gas field and three other fields within the 12-tcf Mariscal Sucre project. The company is also targeting access to the 7.3-tcf Loran offshore area, potentially adding up to 20 tcf of combined reserves. Shell aims to send the Venezuelan gas to Trinidad for processing into liquefied natural gas for export, bolstering its Atlantic LNG project. Preliminary deals were signed in March to advance Dragon and possibly develop onshore oil and gas fields Carito and Pirital.

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Timeline

Announced
Apr 1, 2026
Signed
Closed

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