Bolivia will pay US$240 million for nationalized gas-pipeline company Transredes

[Judi Lynn]

Source: Associated Press

Bolivia will pay US$240 million for nationalized gas-pipeline company Transredes
The Associated Press
Published: June 5, 2008

LA PAZ, Bolivia: Bolivia's government says it will pay US$240 million to Royal Dutch Shell and Ashmore Energy International for their shares in nationalized gas pipeline company Transredes.

Hydrocarbons Minister Carlos Villegas says the form of payment for the shares will be agreed upon in future negotations.

Ashmore and Shell controlled about 50 percent of Transredes, with state energy company Yacimientos Petroliferos Fiscales Bolivianos, or YPFB, owning 37 percent.

Transredes' pipelines transport natural gas to Brazil and Argentina.



Read more: http://www.iht.com/articles/ap/2008/06/05/business/LA-FIN-Bolivia-Nationalization.php

[jamesinca]

1. This I hope

I hope it gets Shell and Ashmore out of Bolivia. I hope it lets the people of Bolivia reap all of the money from the sell of natural gas to Argentina and Brazil. I know, somewhere, some how Shell is still taking the Bolivians money and keeping them from financial self determination.

[Dr.Phool]

2. Pay for it in US Dollars?

:rofl:

Now they're really getting screwed.

[Phred42]

3. NATIONALIZING Natural Resources - Excellent Idea!

We should be doing that here. Natural resources belong to that countries Citizens NOT Greedy Corporations!