ROME, April 20 (Reuters) - Italian energy group Eni said on Monday it was in discussions with Spanish peer Repsol and Venezuela's state-owned PDVSA over terms for potentially exporting gas from the
Eni in Talks With Repsol and PDVSA Over Potential Venezuelan Gas Exports
Negotiations and Potential Agreements for Venezuelan Gas Exports
Current Discussions Between Eni, Repsol, and PDVSA
ROME, April 20 (Reuters) - Italian energy group Eni said on Monday it was in discussions with Spanish peer Repsol and Venezuela's state-owned PDVSA over terms for potentially exporting gas from the South American country's Cardon IV field.
"We confirm that discussions are ongoing between Eni, Repsol and PDVSA regarding the potential and conditions for gas exports from the Cardon IV project," an ENI spokesperson said, adding that no deal had been finalised.
Repsol's Position on the Talks
Repsol declined to comment.
Reported Agreement and Timeline
Bloomberg News reported earlier on Monday that Eni and Repsol had reached an agreement to start exporting natural gas from Venezuela by the end of 2031.
Background: Previous Agreements and Debt Issues
Strategic Agreements and Joint Venture Plans
Venezuela said in March that it had signed "strategic agreements" on gas production with Repsol and Eni, with interim President Delcy Rodriguez saying at the time that the talks envisaged a 50-50 joint venture between Eni and Repsol.
Outstanding Debt and Impact of U.S. Sanctions
Debt Accumulation
Venezuela has accumulated more than $7 billion in debt towards Eni and Repsol as previous U.S. sanctions blocked the possibility for the two European groups to lift products from the country and sell them abroad.
(Reporting by Giancarlo Navach, writing by Gavin Jones, editing by Alvise Armellini)
