The Petrochemical and Chemical Industry (IPYQ) in Venezuela: energy transition and decarbonization

Final consultancy report prepared by Lino A. Clemente Rincón on the petrochemical and chemical industry (IPYQ) in Venezuela, energy transition and decarbonization. The document analyzes the regional context of energy transition in Latin America and the Caribbean, economic sectors and their emissions profiles, the role of natural gas, the global petrochemical and chemical industry, circular economy, sustainability, digitalization, decarbonization options and the specific situation of the Venezuelan IPYQ. For Venezuela, the report examines the historical evolution of the petrochemical industry, its spatial dimension, the legal framework, the value chain, the relationship with PDVSA, PEQUIVEN, petrochemical and refining complexes, gas flaring and venting, GHG emissions, and opportunities to move towards a more sustainable petrochemical industry through energy efficiency, gas flaring reduction, carbon capture and use, circular economy, public-private partnerships, investment, green and blue hydrogen, and a public policy roadmap for energy transition and decarbonization in the sector.