World Bank May Fund Tri-Nation Pipeline, Uruguay Official Says

[Judi Lynn]

World Bank May Fund Tri-Nation Pipeline, Uruguay Official Says
By Rodrigo Orihuela

Oct. 27 (Bloomberg) -- Uruguay, Paraguay and Bolivia are in talks with the World Bank for a loan to finance a natural-gas pipeline shared by the three countries, Uruguay’s deputy minister for industries, energy and mining said.

“The World Bank is committed to helping the three countries finance the project,” Minister Roberto Kreimerman, said in an interview in his Montevideo office on Oct. 26. “This is a solid project, not something that is in the air.”

Uruguay is a net natural-gas importer, while Bolivia holds South America’s second-largest reserves of the fossil fuel. Paraguay also imports gas. The three countries this year revived their decades-old integration union known as Urupabol.

Kreimerman, 51, declined to estimate the pipeline’s cost. ABC, Paraguay’s top-circulation newspaper, on Oct. 20 cited unnamed sources estimating the price tag at $3 billion.

The conduit would have to pass through Brazil or Argentina to connect with the three countries as Uruguay doesn’t share a border with Bolivia or Paraguay, Kreimerman said.

More:
http://www.bloomberg.com/apps/news?pid=20601072&sid=aUiH9qaykQho

[Braulio]

1. It's not a bad idea to link Bolivian gas to Uruguay.

However, this type of project will likely take 5-6 years to happen, and it will require involvement by multinational corporations to assume the owner's risk. I bet Repsol and Petrobras will be trying to get a piece of the action.

[Peace Patriot]

2. I can't say I'm glad to see the World Bank "back in the game" in South America,

but with leftist governments in charge of the deal we can hope that these ruinous loan sharks aren't up to their usual dirty rotten tricks.

[Braulio]

3. Loan Sharks? LOL

The World Bank treats its clients with tender loving care. What do you want, free interest loans?