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Bolivia and Brazil agree gas deal Bolivia and Brazil agree gas deal
(about 4 hours later)
Bolivia has reached agreement on a price increase over its natural gas exports to Brazil, bringing to an end months of dispute over the issue.Bolivia has reached agreement on a price increase over its natural gas exports to Brazil, bringing to an end months of dispute over the issue.
Brazilian President Luis Inacio Lula da Silva and his Bolivian counterpart, Evo Morales, will give more details about the agreement on Thursday.Brazilian President Luis Inacio Lula da Silva and his Bolivian counterpart, Evo Morales, will give more details about the agreement on Thursday.
Negotiations began last year when Mr Morales said an increase in the price would help lift Bolivia out of poverty.Negotiations began last year when Mr Morales said an increase in the price would help lift Bolivia out of poverty.
Brazil depends on Bolivia for 50% of its daily gas supply.Brazil depends on Bolivia for 50% of its daily gas supply.
Last year, the Bolivian government signed a deal that more than tripled natural gas exports to Argentina at increased prices.Last year, the Bolivian government signed a deal that more than tripled natural gas exports to Argentina at increased prices.
Marco Aurelio Garcia, a foreign affairs adviser to the Brazilian president, said the terms of the agreement were satisfactory.Marco Aurelio Garcia, a foreign affairs adviser to the Brazilian president, said the terms of the agreement were satisfactory.
Mr Morales was elected in December 2005, with his promise to nationalise Bolivia's energy industry being a key promise.Mr Morales was elected in December 2005, with his promise to nationalise Bolivia's energy industry being a key promise.