Bolivia to Invest $40 Million in New Gas Pipeline to Argentina

LA PAZ – President Evo Morales’ administration plans to invest $40 million in a 20-kilometer (12.4-mile) gas pipeline running from southern Bolivia to the Argentine border, Hydrocarbons Minister Fernando Vincenti said.

The pipeline will connect other gas pipelines in southern Bolivia to lines in northern Argentina, where the fuel will be distributed.

The pipeline will be named for Lt. Col. Juan Azurduy de Padilla, a hero of the wars for independence in Bolivia and Argentina, Vincenti told the official ABI news agency.

The pipeline is one of the projects to be officially announced by the governments of both countries on Friday in the southeastern Bolivian city of Sucre, where Argentine President Cristina Fernandez is slated to meet with Morales.

The two countries plan to sign an addendum on the same day to the 2006 contract regulating Bolivian gas exports to Argentina.

The goal of the new agreement is to increase Bolivia’s gas exports to Argentina to 27 million cubic meters per day.

La Paz said earlier this year that it planned to invest $11 billion over the next seven years to develop oil and gas production.

Bolivia currently exports gas to Brazil and Argentina, but it wants to expand to other Southern Cone markets. EFE

 

Source: EFE

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