Venezuela expects to double its gas output by 2012

Venezuela expects to double its current gas production to some 11.5 billion cubic feet by 2012, according to a top official at state-owned oil company, EFE news agency reported Monday. Venezuela currently produces 6.3 billion cubic feet of gas and expects to increase its output to nearly 11.5 billion cubic feet in the coming four years, Anton Castillo, director of gas processing at Petróleos de Venezuela, S.A. (PDVSA) said, official ABN news agency reported Sunday. “With execution of the Gran Mariscal de Ayacucho Complex, we will be able to process some 600 million additional cubic feet by mid-2009,” the executive told ABN, adding that output would reach “some 11.5 billion cubic feet by 2012″. PDVSA wants to increase gas production to “guarantee domestic supply” and “joint developments with partner countries,” Castillo said.