Posted on 08/09/2008 1:18:24 PM PDT by decimon
LA PAZ (AFP) - Bolivia and Shell have signed a deal compensating the Anglo-Dutch energy group for its share in the nationalized gas pipeline company Transredes.
The accord was signed late Friday by Bolivian Energy Minister Carlos Villegas and Shell representative Jose Maria Linardi in the presence of President Evo Morales, an AFP photographer at the ceremony said.
The amount of the deal for Shell's stake in Transredes, which was nationalized by Morales last year, was not divulged by officials.
Reports on Saturday, however, put the sum at 120.57 million dollars.
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The deal did not include another stake-holder in Transredes, US company Ashmore Energy International, which was demanding a 500-million-dollar pay-out from Bolivia in a case before the Arbitration Institute of Stockholm's Chamber of Commerce.
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(Excerpt) Read more at news.yahoo.com ...
Expect shortages/shortfalls/maintenance related accidents/government official theft from the Bolivian run company within 18 months.
And some more expatriates in Miami.
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