HOUSTON, Jan 26 (Reuters) – Trading houses have started preparing to load and export Venezuelan liquefied petroleum gas (LPG) as part of a 50 million barrel oil supply deal between Caracas and Washington, according to two sources and a shipping document seen by Reuters on Monday.

Earlier this month, traders Vitol and Trafigura were awarded the first US licenses to manage supplies in the $2 billion flagship deal, which aims to drain accumulated inventories from the United States. imposed an oil embargo on the country in December. Since then, companies have exported about 10 million barrels of Venezuelan crude, according to shipping data.

Trading houses are also gearing up to export residual fuel oil and LPG.

While fuel oil is a product that Venezuela produces in excess due to the processing of its extra-heavy crude at refineries, it had not had an LPG surplus for years because all production was going to meet domestic demand.

However, acting President Delcy Rodríguez, who also serves as Venezuela’s oil minister, said earlier this month that the country would soon export LPG after Venezuela’s global demand for the fuel was fully met by domestic production last year.

The vessel Chrysopigi Lady, chartered by Trafigura, was approaching Venezuela’s Port Jose on Monday to pick up a cargo of LPG, LSEG vessel data showed.

Trafigura and Venezuela’s state-owned PDVSA did not immediately respond to requests for comment.

(Reporting by Marianna Parraga; Editing by Julia Symmes-Cobb and Diane Craft)