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South America debates regional energy security
United States News.Net
Friday 9th May, 2008 (IANS)
Caracas, May 9 (Prensa Latina) The 12-member Union of South American Nations (UNASUR) has announced the formation of an energy council for better integration of the region to ensure energy security.
Representatives of the UNASUR states met Thursday in the Venezuelan capital and discussed aspects of the regional energy strategy as part of the arrangements for the bloc's upcoming summit in Brazil.
Representatives from Argentina, Bolivia, Brazil, Colombia, Chile, Ecuador, Guyana and Uruguay, as well as delegates from Surinam, Peru and Paraguay attended the meeting.
The representatives analysed a draft of guidelines for the South American Energy Action Plan and those of the energy treaty of the region.
The issue becomes important faced with the sustainable rise of hydrocarbons, with values surpassing $120 per barrel and strongly hitting economies of nations importing crude oil.
The Margarita declaration was inked in April last year by UNASUR statesmen, and this paved the way to agree the Energy Council of South America, made up of energy ministers from each country.
Analysts consider this event a previous step to the bloc's top meeting to be held May 23 in Brasilia.
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