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

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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