Russia To Build a Gas Pipeline btw Bolivia and Argentina

"We hope that we will reach an agreement on the project's main issues," Medvedev told a news conference.

Bolivia, which has Latin America's second largest gas reserves after Venezuela, signed a contract with Argentina last March to build a $1.5 billion gas pipeline that will eventually quadruple the amount of natural gas the country supplies to its southern neighbor.

Russia's Gazprom, which is increasingly looking to Latin American markets, signed a gas prospecting deal with Bolivia earlier this year. The energy giant is also in talks with Brazil, Argentina and Venezuela that jointly plan to build a transcontinental pipeline which will also cross Bolivia.

Medvedev also said Russia and Argentina would cancel visas soon in a bid to encourage business contacts and tourist flows. "We agreed to finish work over an agreement on visa-free travel as soon as possible," he said.

Argentina also expressed support for Russia's bid to join the World Trade Organization.

Argentine president Cristina Fernandez De Kirchner invited Medvedev and Prime Minister Vladimir Putin to visit Argentina. The invitations were accepted. The date for the visits will be coordinated via diplomatic channels.

Author: Ksenia Kochneva