CARACAS, Venezuela (AP) — Venezuela is touting a vast natural gas discovery off its coast, a project that President Hugo Chavez says will help turn the oil-exporting country into a major global gas producer.
Venezuela's oil minister, Rafael Ramirez, said Monday that the latest exploratory drilling has confirmed "extraordinary results": about 15 trillion cubic feet of gas under the sea floor in a place where experts once thought there was only a fraction of that amount. Italian energy company Eni SpA, which is a partner in the project, announced the drilling results last week, calling it the biggest natural gas deposit in Venezuela and one of the most significant finds in recent …
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