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UPDATE 1-U.S. extends authorization of liquefied petroleum gas exports to Venezuela

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(Adds context on the license' use)

WASHINGTON, July 7 (Reuters) - The United States has authorized transactions involving exports of liquefied petroleum gas (LPG) to Venezuela until July 12, 2023, according to a general license posted on the Treasury Department's website on Thursday.

The U.S. government had issued a general license for the first time last year authorizing LPG supplies to Venezuela, mainly used in the OPEC nation as cooking fuel, with that license set to expire on Friday.

But the authorization remains unused since it prohibits supplying companies from accepting payments in kind from Venezuela's PDVSA, which in recent years has become the state-run firm's main way of trading cargoes.

The so-called oil swaps are frequently negotiated by PDVSA to repay pending debt and receive crude and fuel imports from non-U.S. companies, including Iranian firms.

PDVSA is this year producing some 27,000 barrels per day of LPG according to consultancy Gas Energy's estimates, which covers most of the country's cooking gas demand. Imports were used to compensate for the deficit before Washington imposed trading sanctions on the company in 2019. (Reporting by Chris Gallagher and Marianna Parraga; Editing by Caitlin Webber and Diane Craft)