Outlook Bright for Fueling Growth Of Natural Gas In The Southern Cone

08/09/1999
Generally blessed with plentiful hydrocarbon reserves, South America boasts proven oil reserves of 129 billion bbl and proven gas reserves of 265 tcf, or 10% of the world`s total oil equivalent reserves. Click here to enlarge imageAlthough Latin America and the Southern Cone (for purposes of this discussion comprising Argentina, Brazil, Chile, Bolivia, and Peru) as a whole are fairly balanced in their production and consumption of oil and gas, countries such as Brazil and Chile find themselves in a deficit position. The primary reason is that the high-growth economies of Brazil and Chile do not possess sufficient indigenous reserves and production capacity. This results in imports by the...
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