Bolivia wants higher price for gas exported to Brazil

Bolivia will substantially increase prices of natural gas it exports to Brazil, Bolivian President Evo Morales told Sérgio Gabrielli, president of Petroleo Brasileiro SA (Petrobras), in a new wrinkle in the countries’ already tense commercial relations.During an annual meeting of the Inter-American Development Bank (IDB) in Minas Gerais state, Brazil, Gabrielli acknowledged the importance of the price increase to Brazil and said he is willing to negotiate.Petrobras imports about 26 million cu m/day of Bolivian gas. Brazilian gas consumption averages 42 million cu m/day. The state company has invested $1.5 billion in Bolivian oil and gas projects over the last decade but has f...

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