Venezuela, Colombia Begin Pipeline

[Judi Lynn]

July 8, 2006, 9:13PM
Venezuela, Colombia Begin Pipeline

By NATALIE OBIKO PEARSON Associated Press Writer
© 2006 The Associated Press

EL TIGRE MILITARY BASE, Venezuela — President Hugo Chavez and Colombian counterpart Alvaro Uribe inaugurated construction on Saturday of a natural gas pipeline, part of the Venezuelan leader's efforts to integrate Latin America through energy cooperation.

Chavez and Uribe were joined by Panamanian President Martin Torrijos at a military base near the border separating Venezuela and Colombia, where they gathered to watch welders solder part of the pipeline.
(snip)

Chavez and Uribe signed an agreement in November for construction of the pipeline from Colombia's la Guajira gas fields to Venezuela's Paraguana refining complex _ the country's largest _ which requires large amounts of natural gas for petroleum refining.

Venezuelan Oil Minister Rafael Ramirez said construction of the pipeline by a consortium of Colombian and Venezuelan companies would cost US$335 million (euro262 million) and would be finished by March 2007.
(snip/...)

http://www.chron.com/disp/story.mpl/ap/fn/4033815.html

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Venezuela, Colombia, start building gas pipeline
Sat Jul 8, 2006 3:31pm ET

CARACAS (Reuters) - Venezuela and Colombia on Saturday began construction of a gas pipeline linking the two countries, another step in Venezuelan President Hugo Chavez's efforts to promote Latin American energy integration.

Venezuela, the world's No. 5 oil exporter, is seeking to reduce dependence on U.S. energy markets as part of a self-styled socialist revolution that promises to end poverty and unite Latin American nations.

Chavez and Colombian President Alvaro Uribe held a ceremony in western Venezuela to solder the first pipe of a 225 kilometer (140 mile) gas pipeline, projected to cost $335 million, linking Venezuela with Colombian gas fields.

"The axis that will be formed with this pipe ... should be like a central nerve for the integration of Colombia and Venezuela," Chavez said in a speech.
(snip/...)

http://today.reuters.com/business/newsArticle.aspx?type=ousiv&storyID=2006-07-08T193117Z_01_N08349851_RTRIDST_0_BUSINESSPRO-ENERGY-VENEZUELA-COLOMBIA-DC.XML



Chavez & Uribe

[Vidar]

1. Good news. Thanks for posting.

[w4rma]

2. Good news. I wish we were doing that type of stuff here in the US.

Alas, the GOP doesn't have the foresight or intellegence or honesty to do it.

[Commie Pinko Dirtbag]

3. That will disappoint some of the Uribe fanboys.

Won't name names, though. :evilgrin:

[Judi Lynn]

4. Venezuela Buys $3.1B in Argentina Bonds

July 11, 2006, 3:33PM
Venezuela Buys $3.1B in Argentina Bonds


© 2006 The Associated Press

CARACAS, Venezuela — Venezuela has purchased a total of US$3.1 billion (euro2.43 billion) in Argentine bonds since last year, the finance minister said Tuesday.

Under President Hugo Chavez, Venezuela _ the world's fifth-largest oil exporter _ has used its surging oil proceeds to purchase debt from countries like Argentina and Ecuador as part of a bid to boost economic integration in the region.

Finance Minister Nelson Merentes said the government has pocketed US$201 million (euro157.82 million) in gains by reselling US$2.4 billion (euro1.88 billion) worth of bonds to 33 local banks.

Merentes also said that details would be announced within 90 days on plans by Argentina and Venezuela to also issue a joint government bond on international capital markets.
(snip/...)

http://www.chron.com/disp/story.mpl/ap/fn/4039993.html

[Judi Lynn]

5. Venezuela, Colombia asset gas ambitions

Venezuela, Colombia asset gas ambitions
By Carmen J. Gentile Jul 11, 2006, 22:04 GMT

MIAMI, FL, United States (UPI) -- South American neighbors Colombia and Venezuela have kicked off an ambitious gas pipeline project that Venezuelan President Hugo Chavez claims will supply the region with fuel for the next '100 years.'

'This is part of a big project that will be the product of working together,' said Chavez over the weekend at a ceremony in western Venezuela attended by his Colombian counterpart, Alvaro Uribe.

According to Venezuelan Oil Minister Rafael Ramirez the project will cost neighboring nations a combined $335 million and is scheduled to begin operation by Spring 2007.

Although the outspoken leftist Chavez and the conservative Uribe have not always seen eye-to-eye on the political front, Venezuela and Colombia share billions of dollars in business annually and the new pipeline promises to add to the revenue flow.

The two leaders do agree, however, that energy integration in Latin America is crucial for the future success of the region.
(snip/...)

http://news.monstersandcritics.com/energywatch/news/article_1180047.php/Venezuela_Colombia_asset_gas_ambitions