Cuba continues moving forward with development of a $1.4 billion natural gas regasification project and a $1.2 billion urea and ammonia plant under a Venezuelan initiative to provide cheap fuel to regional allies.

The regasification project will have the capacity to process 2.06 million metric tons per year and consist of building facilities to receive and process liquefied natural gas, Petroleos de Venezuela SA said in a December report released last week. The aim of the project is to provide a clean and low-cost energy source to the population, the company said without giving a completion date...

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