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XRG expands gas sector in Venezuela
XRG, a company affiliated with ADNOC Investment in the energy sector, announced its entry into the Venezuelan market through the offshore "Loran" field, after acquiring a stake from the Venezuelan National Oil Company. The project includes proven resources exceeding 4 trillion cubic feet of gas. This move is part of the company's strategy to build a natural gas platform in Latin America and strengthen its presence in the region, with a focus on developing resources responsibly and sustainably. It comes within the framework of XRG's efforts to diversify its investments in liquefied natural gas (LNG), with projects underway in the United States, Argentina, Egypt, Azerbaijan, Mozambique, and Turkmenistan, aiming to connect global resources with existing infrastructure and meet regional and international energy demand.
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