Friday, June 30, 2006

Oil and Gas: Argentina agrees to pay Bolivia 47% more

Argentina has agreed to a 47 percent price hike for Bolivian natural gas. The accord means Argentina's price will rise from $3.38 to about $5, in U.S. dollars, per million British thermal units.

President Nestor Kirchner, also announced a joint pledge to proceed with plans for a natural gas pipeline linking Bolivia's southern gas fields with northern Argentina.