Japan and Venezuela strengthen energy ties

Top officials meet to discuss energy joint ventures.

Venezuelan Minister of Popular Power for Oil and Mining Rafael Ramirez has visited Japan to consolidate and strengthen bilateral relations on energy and oil with Japan.

Ramirez met with his Japanese counterpart, Toshimitsu Motegi, to review the progress of the Memorandum of Understanding on Energy Cooperation signed in 2009.

Marubeni and Mitsui expressed their willingness to assess development of an ethylene plant of 800,000 metric tons per year in Venezuela. They also discussed their participation in the joint venture Polinter (International Polyolefins) and discussed Marubeni’s US$200 million direct financing in Venezuelan oil company PDVSA for the acquisition of goods and services to the oil industry.

Ramirez also met with the presidents of companies JOGMEC, Hirobumi Kawano and Inpex, Toshiaki Kitamura, to review the progress of the joint venture Petroindependencia.

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