Latinnews Daily - 28 October 2003

Bolivia's softly-softly approach seems to be paying off. The Brazilian foreign minister, Celso Amorim, said yesterday that Brazil was willing to spend an extra US$600m in increasing its purchases of Bolivian gas. Brazil says that it will increase its purchases from 11m cubic metres a day to 18m cubic metres a day, although Amorim did not say when from. This is still a long way short of the 30m cubic metres a day Brazil should be buying.

Brazil cut its purchases when the economy slowed down a year ago and the expected energy crunch did not happen. The Brazilian government had commissioned a lot of gas-fired power stations to meet the expected surge in electricity demand. The surge has not materialised so the power station building programme has been slowed down.

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