MercoPress. South Atlantic News Agency

Argentina/ Bolivia sign billion pipeline deal

Argentina and Bolivia signed an agreement for the construction of the Northeast Argentina Gas Pipeline, a project that will require an investment of 1.1 billion US dollars

The ceremony was headed by Argentina's Federal Planning Minister Julio De Vido and Bolivian Minister Carlos Villegas Quiroga and government officials from both nations. The gas pipeline is needed to meet the commitments by Bolivia to supply Argentina 20 million cubic metres of gas a day by 2010. The pipeline will go through the provinces of Corrientes, Misiones, Entre Ríos, Salta, Formosa and Chaco. De Vido said that during his trip to Bolivia scheduled for March 26 both governments will define the tender process for the gas separation plant in Bolivia, the compression plants in both countries and especially the bi-national tender to carry out the whole project. De Vido added that the project has sufficient financial backing by the Argentine government and warned that no speculators will be tolerated on either side of the border.