The Bolivian government announced that in the following days it would sign purchase-sale gas contracts with private firms. However, representatives of Tarija and Santa Cruz, the two leading regions for gas production in Bolivia, warned that the country is not in a position to sell more gas to private clients because the output has dropped.
Spain will deliver next week its economic proposal to participate in the construction of a bi-oceanic railway, informed the Minister of Public Works, Milton Claros. Initial estimations of the project suggest an investment cost of at least $US10 billion and a construction period of 5-7 years.
The Governors assembly of the Financial Fund for the Development of the River Plate Basin (Fonplata) approved the modification of its charter to enable the transition from a financial fund to a development bank. The change will allow the incorporation of new partners and the establishment of strategic alliances with other development agencies and banks.
Opec has again lowered its forecast for 2019 oil demand growth in a further sign Saudi Arabia and its partners inside and outside the cartel could be forced to cut supplies to bring the market into balance.
Paraguay is currently working on the Bolivian proposal to enhance the Paraguay-Parana waterway. The current transport capacity on the waterway is of 100 million tonnes per year. The Paraguayan Minister of Public Works said that his country is ready to support any integration initiative in the region.
The Chilean economy recorded its lowest annual expansion in September, 2.3%, due to the weakening of mining activity, reported the Chilean Central Bank.
The tenth version of the International Gas and Energy Forum (Figas) 2018 will be held from November 8 to 10 in the city of Tarija, with the participation of experts in hydrocarbons and electricity from more than 17 countries of the world.
Argentina finalised its first shipment of natural gas to Chile after it closed the key to its neighbour more than a decade ago. The initiative consolidates a new strategic alliance between the two countries said Chilean President Sebastián Piñera.
The Bolivian proposal for a bi-oceanic corridor is more feasible than the one suggested by Chile, which excludes Bolivia. According to Bolivian experts, the Bolivian project it is now in the pre-feasibility phase, and there is already a railway line in Brazil that connects with the Bolivian track.
Oil prices fell on Monday in London and New York, with investors more concerned about global growth than the return of sanctions on Iranian oil.