British Petroleum and British Gas formed the Pacific LNG Inversiones consortium to invest USD 5 billion in a project aimed at exporting liquefied natural gas from Bolivia to the US and Mexico. The project, which will be developed in the short term, involves operations in the Margarita gas deposit situated in Tarija, the purchase of ships and the construction of a gas pipeline and of gas processing plants. Pacific LNG Inversiones predicts to export more than 60mil cubic meters of natural gas per day. The Bolivian gas is to start reaching the US by the year 2005. TotalFina Elf is negotiating its participation in the project as well.
