Venezuela Hydrogen Energy Storage Market (2025-2031)
Despite facing challenges such as infrastructure development and investment constraints, the Venezuela Hydrogen Energy Storage Market is poised for expansion in the coming years.
The country operates six hydroelectric plants, totaling a capacity of 16,010 megawatts (MW), with the Central Hidroeléctrica Guri in Orinoco being the most significant, accounting for 64% of Venezuela's hydroelectric capacity. This reliance on hydroelectricity highlights the grid's vulnerability to fluctuations in water availability.
Despite these vast reserves, much of Venezuela's natural gas is underutilized, used to support mature oil fields or flared due to inadequate infrastructure. Production peaked at 1.12 Tcf in 2001 but fell to 563 billion cubic feet (Bcf) by 2021, hampered by poor investment and lack of infrastructure.
As of 2023, Venezuela had 25 operational pipelines with a total capacity of 8,969,985 barrels of oil equivalent per day and a total length of 2,139 miles (Table 3). Venezuela relies on an aging pipeline network to transport oil from wells to refineries, with many pipelines estimated to be more than 50 years old.
Furthermore, budgetary constraints at Venezuela's state oil company PDVSA and a lack of qualified technical personnel and foreign direct investment have all hampered Venezuela's oil and natural gas development. PDVSA is the largest source of revenue for the Venezuelan government.
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