Abstract

This paper provides a comprehensive analysis of the outlook for the legal regime governing upstream non-associated gas projects in Venezuela. The existing regime allows ample participation by private parties in all segments of the gas value chain, contrary to the situation in oil projects, in which private participation is only allowed through joint ventures controlled and majority-owned by the State. Nonetheless, the current Administration has repeatedly signaled plans to change this regime in order to make it closer to the one it has established for oil projects. The paper ...