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Gazprom to join South American natural gas pipeline project
Petroleumworld
LONDON
Petroleumworld.com 07 28 06The Venezuelan goverment said in a statement Thursday that the Russian energy company Gazprom will join the Venezuela promoted US$25 billion project to build a South American natural gas pipeline from venezuela to Argentina.
"Gazprom will participate in the execution of the Great Southern Pipeline project," the statement said.
The proposed 5,600-mile gas pipeline, actively promoted by Venezuela's President Hugo Chavez, aims to send Venezuela's natural gas through Brazil to Argentina, with branches extending to Bolivia, Paraguay and Uruguay.
Some analysts have questioned whether plan is realistic, saying it is neither cost-effective nor environmentally sound.
The government also said Thursday that Russia's Lukoil, would expand its activity in Venezuela with new oil and natural gas exploration projects.
Petroleumworld 27 07 06
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