Will the US control Venezuelan natural gas too? Venezuela holds vast natural gas reserves, estimated around 200 TRILLION cubic feet. Currently, natural gas is selling for $4+ per thousand cubic foot, making these raw gas reserves worth as much as $800 BILLION. In fact, Venezuela has proven reserves equivalent to 235 TIMES its annual consumption levels. And, many of these natural gas reserves are untapped, as outlined in the map below. This weekend, President Trump said large US oil companies will be moving into Venezuela. Will US oil companies also tap into these natural gas reserves?