The new contract will entail the export of 27.7Mm3/d over 20 years. Bolivia would begin ramping up its current 7.7Mm3/d gas export to Argentina starting in 2007 and reach the full amount established in the contract by 2010, the statement said.
The increased gas supply would provide Bolivia with US$17bn based on the US$5/MBTU export price established by the late-June bilateral agreement.
The agreement to increase gas supply would clear the way for the tender to build a GNEA gas pipeline between the two countries as well as a liquids separation plant in Bolivia.
The increased gas also would help meet Argentina's growing gas demand, which averages some 120Mm3/d and could grow 9.5% annually in coming years.
The US$5/MBTU export price established in the June agreement will remain in effect until year-end, when a new price will come into effect based on a formula derived from various international market prices.
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