Can you imagine a vibrant Venezuela, with a robust economy and a secure, sustainable energy future? This is not just a dream—it is entirely possible. The “Venezuela, Land of Grace” Plan outlines a bold and transformative vision that promises to make this future a reality, once democratic change is achieved in our nation.
In its energy chapter, this strategic plan—developed by professionals with expertise in hydrocarbons, clean energy, and electricity—not only seeks to revitalize the country’s traditional energy backbone, but also opens the door to a wide range of possibilities. Nature has been generous with this land, endowing it with countless resources. Venezuela is destined to become the Energy Hub of the Americas.
For decades, Venezuela has been synonymous with oil and gas. The “Venezuela, Land of Grace” Plan acknowledges the value of this legacy and proposes a more efficient and optimized development of the entire hydrocarbon value chain. Yet, its vision extends far beyond what is already known. With a strategic outlook spanning short-, medium-, and long-term horizons, the plan integrates existing assets and the potential of new renewable energy sources with the revival of the national oil industry, while fostering strong synergies with Venezuela’s industrial development.
The objective is clear: to maximize the value of every energy resource, propelling a new Venezuela that delivers direct benefits to its citizens and all productive sectors.
Hydrocarbons Will Continue Driving Development
Venezuela holds proven oil reserves of 303 billion barrels, and has a production potential of 3.5 to 4.5 million barrels per day, limited only by what private capital is willing to invest under an unrestricted framework—namely, a competitive fiscal regime and full guarantees for the protection of private investment.
There is also significant potential for further exploration of both conventional and unconventional resources, with highly competitive production costs on the international market, ranging between $10 and $20 per barrel. Venezuela is poised to become the regional hub for energy investments.
In terms of natural gas, the country boasts 160 to 200 trillion cubic feet of non-associated gas reserves—ranking first in Latin America—and another 160 trillion cubic feet of proven associated gas reserves. The production potential exceeds 12 billion cubic feet per day.
Additionally, natural gas liquids open up a broad range of opportunities for the petrochemical industry in both eastern and western Venezuela. The number of investment opportunities is truly astonishing. Among them: the transformation of petroleum coke, produced in refineries and upgrading facilities in the Orinoco Belt, into hydrogen or blue ammonia. Other opportunities include carbon capture, utilization in enhanced oil recovery (EOR) processes, and CO₂ storage.
The country also has a refining and upgrading capacity close to 2 million barrels per day, providing a solid platform for processing domestically produced crude. This, in turn, supports the development of a connected petrochemical industry, positioning Venezuela as a competitive alternative to the importation of resins and petrochemical products from other parts of the world.
How Will This Ambitious Vision Become Reality?
The answer is clear and decisive: by attracting private capital.
Venezuela will open its doors to strategic investment—in the quantities and timeframes necessary to drive transformational projects. This influx of capital will not only strengthen the country’s energy infrastructure but will also help reestablish Venezuela’s position as a key player in the regional energy market.
Unlimited Potential with Tangible Benefits Ahead
What types of energy can Venezuela offer the world? The answer is both surprising and abundant:
- Hydropower Potential: The Andes, the western region, and the vast state of Bolívar are home to an impressive network of rivers and waterfalls that make Venezuela a natural hydroelectric powerhouse. This clean and renewable energy source has the capacity to stabilize and meet the needs of the national grid, electrify the entire industrial park, and even enable electricity exports to neighboring countries.
- Powerful Winds: Venezuela’s coastlines—especially in the Gulf of Venezuela, and the states of Zulia, Falcón, Sucre, Anzoátegui, and Nueva Esparta—are swept by constant, steady winds. This is an invaluable resource for continuous wind power generation. Imagine modern wind farms delivering clean energy to entire communities across the country.
- The Sun as a Strategic Ally: Venezuela’s privileged geographic location blesses it with year-round high solar radiation. This is a tremendous opportunity for the development of both photovoltaic and solar thermal energy across the entire national territory, with special emphasis on Paraguaná Peninsula and the central plains. Decentralized solar energy has the power to transform rural life and boost sustainable agro-industry, enabling local production to meet the nutritional and food needs of the population.
Exploring Geothermal Energy
Though still in early stages of exploration, geothermal energy holds fascinating potential in the Andes, eastern Venezuela, and the plains. Harnessing the Earth’s internal heat could provide clean, renewable, and 24/7 available energy, making it a strong candidate to support internal energy demand.
Likewise, abundant vegetation and agricultural residues are a rich source for biomass energy generation. In agricultural and forestry zones, the combustion of organic matter and crop residues—such as sugarcane bagasse—can be converted into heat or electricity using cutting-edge technologies.
