MEXICO CITY, Jan 17 (Bernama-Sputnik/RIA Novosti) -- Venezuela has signed its first-ever gas export contract, acting President Delcy Rodriguez said, reported Sputnik/RIA Novosti.
"Today, for the first time in our history, a contract for the commercialisation of liquefied natural gas was signed. The first molecule of Venezuelan gas will be exported. We have stated this and now we are fulfilling this commitment," Rodriguez said at the National Council of Industrial Economics.
The contract was the result of state oil and gas company PDVSA's own efforts and a confirmation of the country's chosen economic course, the acting president said. PDVSA has raised oil production to 1.2 million barrels per day — a level not seen since 2015, she added.
The foreign currency revenues from hydrocarbon exports should no longer be spent on fuel imports, as the country now meets its own needs, and the funds will be directed towards Venezuela's social and economic development, including through the creation of sovereign funds, Rodriguez said.
Rodriguez described strategic import substitution and economic diversification as core pillars of the government's economic agenda, adding that the restoration of lending should support productive sectors such as agriculture, fishing, agro-industrial complex and tourism rather than financial and currency speculation.
-- BERNAMA-SPUTNIK/RIA NOVOSTI
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