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LatinNews Regional Monitor: Andean Group - 19 February 2019

From LatinNews Daily

* Bolivia and Argentina have renegotiated their natural gas provision contract valid until 2026 and agreed on a Memorandum of Understanding (MoU) to further bilateral trade relations. The addendum to the contract was signed in Bolivia’s Santa Cruz department by Bolivia’s state-owned oil company YPFB and Argentina’s state-run energy company IEASA. According to Bolivia’s hydrocarbons ministry, Bolivia will receive an additional Bs3.73bn (US$536.5m) as a result of the deal. The Argentine government declared that it expects to save US$460m in two years due to the contract’s classification of 'peak' months in natural gas consumption (June, July, and August) and the rest of the year. As part of the contract, Argentina offered a Pampa 3 airplane (a military training and light attack unit) to Bolivia in case the gas offer surpasses the amount stipulated for the months of greater consumption.