Is Pipeline Proposal A White Elephant?

March 2006 | Political Risk Analysis

In early March, officials from Argentina, Brazil and Venezuela met to discuss perhaps the most ambitious energy project in Latin American history: the Gasoducto del Sur, an 8,000km natural gas pipeline pipeline that would stretch from Venezuela, through the Amazon rainforest, and down to the southern tip of Argentina. The objective, according to the countries involved, is to ensure regional energy and economic security, while providing an outlet for Venezuelan natural gas. But in BMI's view, there appear to be at least two major obstacles in the way. The first is the money: the initial cost estimates of US$4bn was

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