Ministers Sign Gasoducto del Sur Pipeline Agreement


The energy ministers of Bolivia, Paraguay and Uruguay have signed memorandums of adhesion that formally establish the countries' participation in the Gran Gasoducto del Sur pipeline project.

The pipeline would run from Venezuela through Brazil and on to Argentina to increase natural gas supplies on the continent, Venezuela's state oil company PDVSA said in a statement.

The US$25bn project, which would entail from 8,000-15,000km of pipe and 5-7 years construction time, is based on Venezuela's long-standing claim of over 150 trillion cubic feet in "probable" reserves.

The adhesion agreement was signed at a meeting in Argentina of the Mercosur regional trade bloc.

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