A gas pipeline that would link Brazil, Peru, Chile, Argentina and Uruguay was discussed at a ministerial level meeting in Lima, Peru , on Monday, June 13.
The ministers, from the economic and energy sectors, set up a work group to study the project.
In a declaration from the meeting they praised the project, saying that the pipeline would result in trade expansion, reduction in the risks of industrializing gas, sharing of economic aspects of the project and technology transfer for the benefit of all concerned.
A preliminary report on the proposed gas pipeline will be presented on June 20, at a Mercosur summit in Asuncion, Paraguay.
The Interamerican Development Bank has expressed interest in providing technical and financial assistance for the project.
Bolivia, which has one of South America’s largest reserves of natural gas, was not present at the Lima meeting but will most likely be included in the project in the future.