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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. |