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Bolivia Begins Renationalization Of Gas Industry

Posted by: lainie herrera

4 May 2006 - 12:00pm

Only four days after President Morales' decision, gas companies in Bolivia are making decisions about nationalizing, or leaving. They have 180 days from May 1 to decide.

"Bolivia is to hold talks with Brazil, Argentina and Venezuela on Thursday to discuss its move to extend state control over its natural gas assets.

Bolivian leader Evo Morales has said private energy companies must review contracts and sell their controlling stakes in energy to his government.

The move has alarmed Brazil and other key foreign investors in Bolivian gas.

With Brazil relying on Bolivia for half its gas, stakes will be high when the leaders meet, a BBC correspondent says."

Full Story: Crisis talks on Bolivia gas move
Source: BBC News, May 3, 2006
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