05-02-08 Venezuela's state-owned oil company Petroleos de Venezuela, or PdVSA, is buying 80-90 mm cf of natural gas from Colombia, Colombian Mines and Energy Minister Hernan Martinez said. The gas is transported by a pipeline that was recently built and inaugurated in October.
"We fulfil our part of the contract and they fulfil theirs," Martinez said. "Actually they are even buying a little more that agreed."

The gas is produced in the Ballena field in the Colombian northern province of Guajira by Colombian state-owned oil company Ecopetrol and Chevron. PdVSA had first offered to buy 50 mm cf of gas a day.
According to the agreement, PdVSA spent $ 467 mm to build a 224-km pipeline to ship Colombian gas to Maracaibo, according to the Venezuelan government.