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Colombia, Venezuela finish construction of 224-Km gas pipeline
CARACAS
Petroleumworld.com 10 15 07
Colombian President Alvaro Uribe and his Venezuelan counterpart, Hugo Chavez, on Friday inaugurated the construction's finishing of a 224-kilometer natural gas pipeline that will link Colombia's Caribbean coast and the Venezuelan city of Maracaibo.Colombia's Ecopetrol SA and its partner, Chevron, will soon be pumping 50 million cubic feet of natural gas a day from the Ballena field in the Colombia's northern caribbean Guajira province to Maracaibo in Venezuela, through the new pipeline.
Colombia will export up to 150 million cubic feet a day in 2009 and 2010, and then reduce them to 100 million cubic feet in 2011.
Venezuela's PDVSA, will use the gas by injecting in its oil reservoirs to increase pressure and boost production and on its petrochemicals industry.In five years Venezuela will be in a position to revert the gas flow and will be exporting gas to Colombia.
"This gas of Colombia, as far as we know will last for five years," "Then there won't be more gas there, though we hope they'll find more...but at that time we will be in condition to send gas to Colombia," Chavez said in a speech.
Story by Petroleumworld 12 10 07
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