Bolivia Holds 4-Way Energy Summit

La Paz
Bolivia's President Evo Morales is meeting Wednesday in Asuncion with his counterparts from Paraguay, Uruguay and Venezuela to discuss an ambitious energy integration project.

According to government sources, the aim of the four-way summit is to make possible Bolivian gas supply to Paraguay and Uruguay through a pipeline whose construction will be financed by Venezuela.

The issue will be analyzed by Morales together with his counterparts from Paraguay, Nicanor Duarte, Uruguay's Tabare Vazquez and Venezuela's Hugo Chavez, whose aim is to sign an understanding memorandum.

The state Bolivian News Agency (ABI) stated the summit will establish links among gas producers from Bolivia and Venezuela and those who demand the resource: Paraguay and Uruguay.

The gas pipeline will be 327 miles long in Paraguay and 190 miles in Bolivia, the construction investment is valued at $460 million and the finish date is at least three years, ABI reported.