Saturday, September 15, 2007

Bolivian Natural Gas International Contracts

Bloomberg.com reported today, Saturday, September 15, 2007 that the Bolivian government said it will meet its international commitments to increase natural gas shipments to Argentina and Brazil after their energy companies agreed to invest in the South American nation.

Bloomberg.com reported today, Saturday, September 15, 2007 that Energy Minister Carlos Villegas said a $588 million investment in Bolivian natural gas deposits will guarantee commitments with its neighbors, according to an e-mailed statement late yesterday from his office

Bloomberg.com reported today, Saturday, September 15, 2007 that Argentina is relying on Bolivia to quadruple natural gas shipments to some 27 million cubic meters a day to ease a power shortage in the country by 2010. Brazil currently gets about half the natural gas it uses from its western neighbor.
The Bolivian government announced September 10, 2007 that it would receive $590 million in investment from twelve companies including Petroleo Brasileiro SA (Petrobras), Repsol-YPF SA and British Petroleum Plc. Last year, President Evo Morales announced the nationalization of the country's energy industry and raised taxes.

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