The country’s once vibrant exploration activity plummeted after Chavez came to power in 1999 and nationalized foreign companies’ mining licenses and assets.
The line would connect gas fields in western Canada’s prolific Montney shale formation with the C$40 billion LNG Canada project on British Columbia’s coast.
“We believe that clarity, compensation payments, and a relatively long phase-out period should trigger a re-rating for the company’s conventional power generation,” said analyst Guido Hoymann.