The money will go to improve the system and increase compression in the pipeline's southern stretch, the spokesperson said.
The pipeline has 30Mm3/d capacity, although in the southern stretch capacity is only 2.2Mm3/d because of declining compression.
TBG has scrapped plan for a US$800mn, 11Mm3/d expansion in response to Bolivia's nationalization of its hydrocarbons assets, CEO Ricardo Salomao told Valor Economico newspaper.
TBG is made up of Brazil's federal energy company Petrobras (NYSE: PBR) with 51%, the UK's BG Group (NYSE: BRG) with 29%, Bolivian transport company Transredes with 12%, Anglo-Dutch oil company Shell (NYSE: RDS-B) with 4% and US energy company Prisma Energy with 4%.
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