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Venezuela Studying Feasibility of S.American Gas Pipeline

Posted on: Tuesday, 22 November 2005, 09:00 CST

Venezuela studying feasibility of S.American gas pipeline

CARACAS, Nov. 21 (Xinhua) -- Venezuela is studying the feasibility of building a 6,000-km natural gas pipeline stretching from Venezuela to Argentina, Foreign Minister Ali Rodriguez told the media on Monday.

Rodriguez said building the gas pipeline would involve the infrastructure of Petrosur, a regional petroleum company, to speed up construction.

Argentina, Bolivia, Brazil and Uruguay had all expressed support for the project, which is "ambitious," he added.

Asked about the financing for the project, Rodriguez said funding is available as long as there are reserves and markets.

Venezuela has proposed building a network of pipelines to carry its natural gas to South American markets and eventually tap into supplies in Bolivia, the continent's second-largest source after Venezuela.

Venezuelan President Hugo Chavez and visiting Argentine President Nestor Kirchner signed an agreement on Monday to build the pipe.

Chavez said after his meeting with Kirchner that he was sure Brazil, Uruguay, Paraguay and Bolivia would also participate in the project to guarantee energy "to all of South America for the next 200 years."

The cost for the pipeline running from Venezuela through Brazil to Argentina has been estimated at 10 billion US dollars.

Source: Xinhua News Agency - CEIS

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