ARTICLE · 25 MAY 2016

Cuba Natural Gas

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With the recent shift in U.S. government policy regarding Cuba, is now the time for the energy industry, particularly liquefied natural gas (LNG) project developers, to consider Cuba?

CubaEnergy and Natural Resources

Gabriel Procaccini

Scott David Parven

Nnedinma Ifudu Nweke

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CNG – Cuba Natural Gas

With the recent shift in U.S. government policy regarding Cuba, is now the time for the energy industry, particularly liquefied natural gas (LNG) project developers, to consider Cuba?

Past performance for investors in the Cuban energy space might suggest otherwise. Serious efforts by foreign energy companies over the past 20+ years to build refineries, upgrade oil import terminals and install new pipelines have generally floundered, and millions of dollars have reportedly been spent by oil giants, such as Repsol and Petronas, on investments that failed to yield meaningful results.¹ Moreover, notwithstanding the apparent turning point in U.S.-Cuba relations, the Cuban government appears generally committed to ensuring, for now, that energy project development remains under significant control of the Cuban government.

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