Venezuela and Colombia Sign Strategic Gas Agreement with Eni and Repsol in Caracas

Venezuela's acting president Delcy Rodríguez hosted a high-level Colombian delegation in Caracas on March 13, 2026, marking the first in-person bilateral meeting between the two countries since the removal of Nicolás Maduro from power in January 2026. Colombian Foreign Minister Rosa Villavicencio and Defense Minister Pedro Sánchez led the delegation after a planned presidential summit between Rodríguez and Colombian President Gustavo Petro was postponed. The two sides agreed to reschedule the presidential meeting for late April 2026 in Maracaibo. The talks covered energy cooperation, border security, and trade, with Rodríguez also calling for the removal of U.S. sanctions against Venezuela.

A central outcome of the Caracas summit was a strategic gas agreement signed between Venezuela's PDVSA and Italian energy company Eni and Spanish company Repsol to strengthen exploitation of the Cardón IV offshore gas field. According to ANSA, the agreement aims to expand investments, increase production capacity, and advance a 2026-2028 strategic plan. A web search result from ANSA indicated the deal would also facilitate PDVSA's debt repayment to the joint venture through crude oil cargoes. Eni described the agreement as helping Venezuela's energy stability. The deal represents a significant step in Venezuela's effort to attract European energy investment following the political transition after Maduro's removal.

Venezuela also announced plans to repair a pipeline to facilitate natural gas exports to Colombia, with the goal of reactivating bilateral trade, according to reporting by Notícias ao Minuto. The pipeline repair is part of a broader energy cooperation framework discussed during the Caracas meetings. Border security formed another key pillar of the agenda, reflecting ongoing concerns along the shared frontier between the two nations. Rodríguez used the meetings to press for an end to U.S. sanctions, which have long constrained Venezuela's economy and energy sector. The rescheduled presidential meeting between Petro and Rodríguez in Maracaibo is set to take place in late April 2026, according to El País.

„Venezuela and Colombia discuss security as Rodriguez calls for end to US sanctions” — Delcy Rodríguez via Reuters

Venezuela and Colombia share a lengthy border and deep economic ties, including historical natural gas trade through cross-border pipelines. Nicolás Maduro, who had governed Venezuela since 2013, was captured by the United States and effectively removed from power in January 2026, after which Rodríguez was sworn in as acting president two days later, according to her Wikipedia entry. The Cardón IV offshore field has been a joint venture between PDVSA, Eni, and Repsol for years and is considered one of Latin America's significant gas production assets. Colombian President Gustavo Petro, who took office in 2022 as Colombia's first left-wing president, had previously discussed Venezuelan gas and drug-fighting cooperation with U.S. President Donald Trump in February 2026, according to Reuters. Venezuela had also suspended energy cooperation with Trinidad and Tobago in October 2025, according to a Reuters web search result, underscoring the fragility of its regional energy partnerships before the current diplomatic push.