Global Processing

Gazprom, Total to sign energy deals with Bolivia

September 18, 2008

Bolivia is preparing to sign oil and gas exploration deals with Russian energy giant Gazprom and Paris-based Total SA, the Associated Press reported. Bolivia''s Hydrocarbons Ministry says President Evo Morales will isign the agreements in La Paz. Terms have not been disclosed. Bolivia bought Royal Dutch Shell''s 25 percent stake in pipeline company Transredes, boosting its share to 75 percent. Transredes pipelines carry natural gas to Brazil and Argentina, Bolivia''s biggest energy customers. Bolivia is home to South America''s second largest natural gas reserves after Venezuela. Morales nationalized the country''s energy sector in 2006.