Brazil formalizes Bolivian gas price increase of 289%

Evo and Lula sign important agreements on hydrocarbons

LA PAZ, February 15.—Presidents Evo Morales (Bolivia) and Luiz Inácio Lula da Silva (Brazil) have signed protocol agreements in the hydrocarbons sector that formalize the increase in the price of gas that the former exports to that Amazonian country, PL reports.

Agreements sealed between the two countries.

The South American giant agreed to raise the price it pays for Bolivian natural gas from $1.09 per million BTU’s to $4.20, representing an increase of 289%.

In a statement to the press from Rio de Janeiro, Carlos Villegas, Bolivian hydrocarbons minister, expressed his satisfaction with the results, describing them as very positive and encouraging in terms of bilateral relations. He added that it is a significant agreement given that it cancels the private contracts signed during the neoliberal period to the detriment of the country.

According to the official, the agreements between the two governments point to a mutual commitment to enter a new phase of energy cooperation.

PL reports that the meeting between the two leaders was wide-ranging and involved other agreements in social and political areas. Issues such as emigration, border controls, combating drug trafficking and commercial, financial and economic exchange are also included in the agreements.

Translated by Granma International