Yesterday, it was announced by Venezuela´s Oil Ministry that PDVSA finally will join shale gas global race, in the sense that soon will start exploring the Maracaibo Lake basin by the joint venture PETROWAYUU along with PETROBRAS from Brazil, giving a jumpstart to shale gas industry in Venezuela, within a changing energy geopolitics where non conventional fuels are taking the lead in this field and numerous new players are surging in the shale gas and shale oil arena such as the United States, Argentina, and where the old players are skeptic about this energy source such as the OPEC members, Russia, and so on. So, if considerable reserves are found by Venezuela, it could add up to its very strength in the heavy and extra heavy oil reserves field as being the first world reservoir, adding more attractiveness and strategic importance to Venezuela´s energy industry and to not lag behind and being stuck in the current energy geopolitics dynamic. In a world hungry for energy sources where China and the asian market are the top consumers and given its strategic relationship with China, Venezuela can take advantage of its potential shale gas discoveries in the short term to consolidate its primacy in the world energy context, where even Russia had to explore potential and possible shale gas zones on its soil to contain the US leadership in this field. So its good news for Venezuela to join shale gas contest which is getting hotter and hotter than ever before.
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