On Monday, Venezuela's interim president, Delcy Rodríguez, celebrated the departure of the Chrysopigi Lady, a vessel carrying the nation's inaugural export of Liquefied Petroleum Gas (LPG). She described this event as "a historic milestone for the people's well-being."
Rodríguez took to her official account on X (formerly known as Twitter) to share a video of the ship's departure, emphasizing that “together with the working class, we mark this historic milestone by exporting the country's first molecule of gas.”
This announcement comes just two days after the National Assembly approved a reform to the hydrocarbons law. This change allows private, national, and international capital to engage in the exploitation and commercialization of oil and gas, ending over two decades of exclusive state control over PDVSA.
The reform was welcomed by Washington as a crucial step in the transition process agreed upon with Rodríguez's interim administration following the capture of Nicolás Maduro on January 3. Subsequently, the United States reopened its embassy in Caracas on January 15 and sanctioned energy transactions with Venezuela under an international oversight framework.
On Monday, Laura Dogu, the U.S. chargé d'affaires in Caracas, met with interim president Delcy Rodríguez and Jorge Rodríguez, the president of the Parliament, at the Miraflores Palace. Following this meeting, the U.S. Embassy in Venezuela reminded the public on X about the "three phases" outlined by Secretary of State Marco Rubio for the country's future: stabilization, economic recovery, and democratic transition.
Understanding Venezuela's Gas Export Milestone
What is the significance of Venezuela's first LPG shipment?
The first LPG shipment marks a significant step in Venezuela's efforts to diversify its energy exports and signals the opening of its hydrocarbons sector to private investment after decades of state control.
How does the new hydrocarbons law affect Venezuela's oil and gas sector?
The reform of the hydrocarbons law allows private and foreign entities to participate in Venezuela's oil and gas market, ending more than twenty years of exclusive state control, potentially leading to increased investment and development in the sector.
What role does the United States play in Venezuela's current transition?
The United States is supporting Venezuela's transition by reopening its embassy in Caracas and permitting energy transactions under international supervision, as part of the broader agreement with the interim government led by Delcy Rodríguez.