Morales Guarantees Natural Gas Supplies to Existing Buyers

Bolivia has guaranteed to continue supplying natural gas to its neighbors but prices have yet to be discussed, GloboNews television reported.

The announcement was made by Bolivia's President Evo Morales in the Argentine town of Puerto Iguazu where he met with Luiz Inacio Lula da Silva, Nestor Kirchner and Hugo Chavez, the respective presidents of Brazil, Argentina and Venezuela, to discuss energy integration in the continent.

The meeting was organized after Morales proclaimed the nationalization of hydrocarbons in Bolivia on May 1, sending shockwaves through neighbors Brazil and Argentina. Both depend on Bolivia's 56 trillion cubic feet of natural gas reserves.

Despite the supply guarantees, Morales said discussion of price levels has not started yet, though he is known to want to raise the price of the gas Bolivia sells to Brazil and Argentina.

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