Chile and Ecuador to explore for gas in Guayaquil Bay

Mar 10, 2008 01:00 AM

Enap and PetroEcuador, the state energy companies of Chile and Ecuador, have signed an agreement to explore for natural gas in block 40 of the Bay of Guayaquil, Chilean President Michelle Bachelet said.
The deal, signed during a state visit by President Rafael Correa to Santiago, was one of a series signed during a meeting between the mining ministers of both countries.

Chile is keen to find alternative energy supplies after Argentina severely reduced gas supplies to its neighbour, together with low rainfalls, leaving the country dependent on more expensive diesel and other imported fuels.
"Ecuador's policy in natural resources is to prioritize strategic alliances with friendly countries," Correa commented.

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