The Government of Venezuela has released it new Nationally Determined Contribution (NDC), pledging to reduce its greenhouse gas (GHG) emissions by 20% in 2035 compared to a BAU scenario (2024-2030), which is the same mitigation target set in its first plan of 2017 and updated in 2021 (UNFCCC, 28/10/2025).
The country aims to spend more than USD18.4bn on its mitigation agenda, with the largest share going to transport (USD10bn) and electricity (USD7.8bn). Specifically, Venezuela intends to convert to gas 7 oil-fired plant totalling 3.8 GW, including Planta Centro (2.6 GW), and to develop 5.5 GW of renewables, with at least 3 GW of solar and 1 GW of wind. In addition, the country plans to reduce gas flaring by 71% between 2025 and 2030 by developing gas transport networks. Most of the investments in the transport sector will go the metro and railway system.
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