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Home >> Business
UPDATED: 13:15, October 25, 2006
Bolivia bans Argentina from reselling gas to Chile
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A natural gas agreement on selling Bolivian gas to the Argentina Energy Company (Enarsa) forbad Enarsa to resell gas to Chile, according to reports by the Bolivian Information Agency reaching here on Tuesday.

Bolivian Hydrocarbons Minister Carlos Villegas told media that Bolivians can rest assured because the gas will only serve the needs of Argentines.

The agreement was signed by Juan Ortiz, head of the Bolivian Fiscal Petroliferous Deposits (YPFB), a state-own energy company and Ezequiel Espinosa, his counterpart of Enarsa.

Under the accord, Enarsa would explore and exploit gas, oil and other hydrocarbons in Bolivia, which has the second-largest gas reserves in South America, after Venezuela.

The contract, which runs from Jan. 1, 2007, foresees the sale of up to 27.7 million cubic meters of gas every day. The two parties expect to increase sale gradually and reach the maximum figure in 2010.

Bolivia and Chile broke off diplomatic relations in 1978, following the breakdown of negotiations for Pacific Ocean access. Bolivia lost its sea outlet in an 1880s war and has demanded an access to the Pacific Ocean since then.

Source: Xinhua

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